The making of a Tupac Shakur hologram that performed at a music festival was not enough to save the Digital Domain Media Group, which filed for bankruptcy protection on Tuesday (September 11).
The company went public in November and has now filed for chapter 11 bankruptcy for protection from its creditors. Going bankrupt was not a huge shock due to the fact that the company had already warned that they were deep in long-term debt.
A private investment firm called Searchlight Capital Partners has chosen to buy Digital Domain's core production business for $15 million, pending the court approval.
Digital Domain has worked on special effects for movies including Pirates of the Caribbean, Transformers and James Cameron's Titanic. The company also won an Oscar for the reverse-aging of Brad Pitt's character in The Curious Case of Benjamin Button.
by RTT Staff Writer
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