.

Maker of Tupac Shakur Hologram Files for Bankruptcy

Virtual version of the iconic rapper 'performed' at Coachella

Tupac Shakur performs as a hologram at Coachella.
Christopher Polk/Getty Images for Coachella
September 12, 2012 10:20 AM ET

The company that created the hologram of Tupac Shakur that performed at this year's Coachella festival has filed for Chapter 11 bankruptcy after going public in November, CNN reports. The filing by Digital Domain Media came as no surprise: the company, which had warned of long-term debt and overhead difficulties, had seen its stock price drop from a peak of $9.20 per share in May to just 55 cents yesterday – a decrease of 94 percent.

Besides the buzzworthy Tupac hologram, the company worked on special effects for blockbusters including Transformers, Pirates Of The Caribbean and Titanic, and won an Oscar for its work on The Curious Case of Benjamin Button. Digital Domain had planned an Elvis hologram, while the estates of Jimi Hendrix and Jim Morrison had expressed interest in staging holographic live shows.

The company, which counts James Cameron among its founders, was generally hired by Hollywood studios on a contract basis, which meant it had a small revenue stream. Digital Domain had boost its bottom line by dipping into the live performance market with its holograms. CEO John Textor resigned last week, and the company closed its offices in Port St. Lucie, Florida, and laid off around 320 employees.

Private investment firm Searchlight Capital Partners is planning to buy Digital Domain's core production business for $15 million, pending approval of the bankruptcy court. Digital Domain had partnered with Lionsgate to make a film adaptation of beloved sci-fi novel Ender's Game. A Lionsgate representative said the film's production is still on schedule for release November 1st, 2013.

To read the new issue of Rolling Stone online, plus the entire RS archive: Click Here

prev
Music Main Next

blog comments powered by Disqus
Daily Newsletter

Get the latest RS news in your inbox.

Sign up to receive the Rolling Stone newsletter and special offers from RS and its
marketing partners.

X

We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.

Song Stories

“Road to Nowhere”

Talking Heads | 1985

A cappella harmonies give way to an a fuller arrangement blending pop and electro-disco on "Road to Nowhere," but the theme remains constant: We're on an eternal journey to an undefined destination. The song vaulted back into the news a quarter century after it was a hit when Gov. Charlie Crist used it in his unsuccessful 2010 campaign for the U.S. Senate in Florida. "It's this little ditty about how there's no order and no plan and no scheme to life and death and it doesn't mean anything, but it's all right," Byrne said with a chuckle.

More Song Stories entries »
 
www.expandtheroom.com