Parker needed special permission from the Overseas Investment Office because he isn't a New Zealand resident and the Weta Digital studio is worth more than 100 million New Zealand dollars .
In a decision published on its website this week, the office said Parker and his business associates had the relevant experience and were "of good character." It said Weta Digital was raising money to grow its business. Parker, who co-founded the file-sharing service Napster and is a former president of Facebook, said in June there was a huge, unmet demand for high-quality animated content.
"I have been a Weta superfan for the past two decades -- I recall my sense of wonder when I first saw the character of Gollum brought to life, and later the surreal feeling of being transported to the alternate reality of Pandora," Parker said, referring to the work Weta did on Jackson's "The Lord of the Rings" trilogy and James Cameron's "Avatar."Weta employs about 1,550 people and is based in New Zealand's capital, Wellington.
In 2016, Parker and Akkaraju founded a video-on-demand startup called Screening Room, which this year relaunched as SR Labs.
Source: Entertainment Trends (entertainmenttrends.net)
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