Digital Domain Media Group, the digital production company co-founded by director James Cameron, is relying on PR counsel amid its Chapter 11 bankruptcy filing and arranged $15M sale to a private equity firm.
Van Meter Consultants, the PR firm of Hitachi, BMC and MWW vet Jennifer Mercer, is advising the Port St. Lucie, Fla.-based company, which created digital effects, animation and production for the film and advertising industries.
“Titanic,” “The Mysterious Case of Benjamin Button” and the “Transformers” movie series, as well as the performing hologram of rapper Tupac Shakur, are among its credits.
DDMG, which went public in a scaled-back, $39M IPO in November, said today it has entered into a purchase agreement with Searchlight Capital Partners for its key Digital Domain Productions and Mothership Media units. Its shares had plunged from above $9 in May to $0.55 when trading was stopped today.
DDMG in August said it hired FTI Consulting and installed senior managing director Michael Katzenstein as chief restructuring officer.
CEO John Textor resigned last week after the company said it would lay off 280 workers and close its Florida operation. It also has operations in California and Canada.
Mercer has run PR shop Van Meter since leaving Hitach as senior PR manager in 2007.
She was previously a VP for MWW and director of comms. for BMC Group. Earlier posts included Sitrick and Company and Hill+Knowlton Strategies.