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'Titanic' firm seeks bankruptcy safety
Source: Agencies |
September 12, 2012, Wednesday
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Print Edition
Print Edition
THE digital production company founded by "Titanic" director James Cameron has filed for bankruptcy protection in the US and Canada and reached a deal to sell its operating business to a private investment firm for US$15 million.
Digital Domain Media Group Inc, best known for its work on "Titanic," filed in the US Bankruptcy Court for the District of Delaware and in a Canadian court, the firm said yesterday.
The sale agreement with Searchlight Capital Partners LP includes the company's operating subsidiaries in the United States and Canada. It must be approved by the court.
The company has studios in California and Canada that create digital visual effects, animation and digital production for the entertainment and advertising industries.
Digital Domain also produced visual effects for "Pirates of the Caribbean: At World's End" and the "Transformers" movies.
Digital Domain Media Group Inc, best known for its work on "Titanic," filed in the US Bankruptcy Court for the District of Delaware and in a Canadian court, the firm said yesterday.
The sale agreement with Searchlight Capital Partners LP includes the company's operating subsidiaries in the United States and Canada. It must be approved by the court.
The company has studios in California and Canada that create digital visual effects, animation and digital production for the entertainment and advertising industries.
Digital Domain also produced visual effects for "Pirates of the Caribbean: At World's End" and the "Transformers" movies.
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