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Eastman Kodak to sell online photo gallery business to Shutterfly for $23.8-mln

Eastman Kodak to sell online photo gallery business to Shutterfly for $23.8-mln | Photography Gear News | Scoop.it

"Eastman Kodak Co. (PINK:EKDKQ) said late Thursday it has entered into an agreement to sell its online photo gallery business to Shutterfly (NASDAQ:SFLY) for $23.8 million as it seeks to focus on retail photo services and home printing products.
The iconic camera maker, which filed for chapter 11 bankruptcy in January, agreed to a “stalking bid” in a court supervised auction to ensure the maximization of value for the assets.
Shutterfly’s bid is the first in an auction process that Eastman Kodak is seeking to have approved in U.S. bankruptcy court by late March."

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Kodak files for bankruptcy

Kodak files for bankruptcy | Photography Gear News | Scoop.it

"Eastman Kodak Company and Its U.S. Subsidiaries Commence Voluntary Chapter 11 Business Reorganization Flow of Goods and Services to Customers to Continue Globally in Ordinary Course"

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Not a joke: Kodak announces a new sensor and after that sells its CCD Business to Platinum Equity!

Not a joke: Kodak announces a new sensor and after that sells its CCD Business to Platinum Equity! | Photography Gear News | Scoop.it
Image on top: The Kodak Park in Rochester (now sold!)
And here is the news we were waiting for many months now. Kodak finally sold his CCD Business to Platinum Equity. There is not info yet about the amount of cash paid by Platinum.
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Kodak to stop making digital cameras

Kodak to stop making digital cameras | Photography Gear News | Scoop.it

"Kodak will stop making digital cameras within the next few months. The company, currently in bankruptcy protection, will also stop making pocket video cameras and photo frames as a cost-cutting measure. Instead it is looking to license its name to other manufacturers who wish to sell cameras under the Kodak brand. Closing the business will cost around $30m, mainly in the cost of laying-off workers, but will save around $100m per year in running costs. All product warranties will be honored.

There was an outburst of nostalgia when the company announced it was discontinuing its famous Kodachrome color film but today's announcement that one of the innovators in portable photography and digital camera technology is leaving the business is a sad one. The company's recent retreat into bankruptcy protection means this step won't come as a complete shock but, whatever now happens to the company, its link to everyday photography has been broken."

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Kodak Teeters on the Brink

Kodak Teeters on the Brink | Photography Gear News | Scoop.it
Eastman Kodak is preparing for a Chapter 11 bankruptcy filing in coming weeks should efforts to sell a trove of digital patents fail.
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Kodak sells Image Sensor Solutions business

Kodak sells Image Sensor Solutions business | Photography Gear News | Scoop.it

"Kodak has sold its Image Sensor Solutions business to Platinum Equity in a bid to strengthen its financial position. The company, which has struggled to manage the shift in the consumer photographic market from film to digital, also recently revealed that it may have to raise cash by the sale of more than 1100 patents to survive the coming year. Image Sensor Solutions provides sensors for the Leica M9 and S2 and a number of medium format backs, as well as a wide range of specialist imaging applications.

Click here for more on Kodak's proposed patent sale (Reuters)"

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