Most Popular
-
1
Over 80,000 millionaires, 20 billionaires in Seoul: report
-
2
Korean battery makers heave sigh of relief over 2-year IRA reprieve
-
3
Young Korean doctors seek plan B: cosmetic dermatology or overseas
-
4
Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
-
5
South Korea open to Indonesian proposal to cut KF-21 payments
-
6
Police seek arrest warrant for med student who killed girlfriend
-
7
Coupang earnings hit hard by losses from ailing Farfetch
-
8
Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
-
9
[K-pop’s dilemma] Time, profit pressures work against originality
![[K-pop’s dilemma] Time, profit pressures work against originality](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/08/20240508050705_0.jpg&u=20240508171126)
-
10
Why femicide and dating violence are growing issues in S. Korea
![[K-pop’s dilemma] Time, profit pressures work against originality](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/08/20240508050705_0.jpg&u=20240508171126)
PORT ST. LUCIE, Florida (AP) ― The digital production company founded by “Titanic’’ director James Cameron has filed for bankruptcy protection in the U.S. and Canada and reached a deal to sell its operating business to a private investment firm for $15 million.
Digital Domain Media Group Inc., best known for its work on “Titanic,’’ filed in the U.S. Bankruptcy Court for the District of Delaware, along with a Canadian court, the company said Tuesday.
The sale agreement with Searchlight Capital Partners LP includes the company’s operating subsidiaries in the U.S. 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.
Day-to-day operations of Digital Domain’s remaining business won’t be affected by the Chapter 11 bankruptcy filing, the company said. Debt holders have agreed to provide up to $20 million in financing that will fund its activities while it restructures.
As of June 30, the company, which went public in November, had total assets of about $205 million and total liabilities of about $214 million.
Digital Domain Media Group Inc., best known for its work on “Titanic,’’ filed in the U.S. Bankruptcy Court for the District of Delaware, along with a Canadian court, the company said Tuesday.
The sale agreement with Searchlight Capital Partners LP includes the company’s operating subsidiaries in the U.S. 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.
Day-to-day operations of Digital Domain’s remaining business won’t be affected by the Chapter 11 bankruptcy filing, the company said. Debt holders have agreed to provide up to $20 million in financing that will fund its activities while it restructures.
As of June 30, the company, which went public in November, had total assets of about $205 million and total liabilities of about $214 million.
-
Articles by Korea Herald
![[Today’s K-pop] Stray Kids to drop new album in July: report](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=642&simg=/content/image/2024/05/09/20240509050659_0.jpg&u=)