The digital production company founded by director James Cameron said it filed for Chapter 11 bankruptcy protection and reached a deal to sell its operating business to a private investment firm for $15 million. Less than a year after going public, Digital Domain Media Group Inc., best known for its work on Cameron's Titanic and its hologram of the late rapper Tupac Shakur, filed in the U.S. Bankruptcy Court. The sale agreement with Searchlight Capital Partners LP includes the company's operating subsidiaries in the U.S. and Canada. It remains subject to an auction process.
