Digital Domain Files for Chapter 11

Category: News
PORT ST. LUCIE, Fla. — According to the AP, Digital Domain, the digital production company founded by Director James Cameron, filed for Chapter 11 bankruptcy protection. It also reports that the company has reached a deal to sell its operating business to a private investment firm for $15 million

The sale agreement with Searchlight Capital Partners LP includes the company's operating subsidiaries in the U.S. and Canada.

This development comes on the heels of news last week from Digital Domain that it was closing its Florida facility.

At that time, the company announced that CEO John Textor had resigned, and executive Ed Ulbrich had been promoted to that position. Textor is said to be the company's second-largest stockholder, owning about 23 percent of shares outstanding, with the largest shareholder being Palm Beach Capital Partners, a private equity firm, which owns 38 percent.



Other News

Call for Entries to Nvidia Global Impact Award
1-Oct-2014
Dynamic New Spot for Ford Transit Integrates 2D, 3D Graphics
1-Oct-2014
New Company Formed to Develop English Version of Shade3D
30-Sep-2014
Academy's Tech Council Adds Members
30-Sep-2014
More News Headlines
Most Read