New York: Eastman Kodak says it expects to emerge from bankruptcy protection between July and September. Many of the storied businesses associated with the Kodak name will be gone.
It will no longer make cameras, home computer printers, or digital picture frames. It will mostly be out of the consumer film business, providing only supplies and services to the new owners of that business.
The reorganization plan filed late on Tuesday says the new Kodak will focus on commercial imaging and printing. It says it should be able to make money by supplying the electronics, chemicals, and printing surfaces used for commercial and graphics customers.
It also plans to provide professional services to commercial and digital printing markets. Old shares of Eastman Kodak Co will be canceled, which is typical in bankruptcy cases....
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08:25 PM, May 01, 2013
Eastman Kodak is selling its digital imaging patents for about $525 million, money the struggling photo pioneer says will help it emerge from bankruptcy protection in the first half of next year. ...
02:26 PM, Dec 20, 2012
Apple and Google have abandoned competing bids for the portfolio to offer a combined $500 million for Kodak patents. ...
12:33 PM, Dec 11, 2012
New York: Eastman Kodak has said the US bankruptcy court has approved its bid to sell more than 1,100 patents related to digital imaging, a move aimed at restructuring the company that once led the photography market. "...Eastman Kodak Company obtained approval from the Bankruptcy Court to conduct an auction to sell its digital capture and Kodak Imaging Systems and Services (KISS) patent portfolios," the company said in a late...
03:50 PM, Jul 03, 2012
New York: Photography pioneer Eastman Kodak Co sued Apple Inc to stop it from interfering with plans to sell a large patent portfolio, a significant part of its bankruptcy restructuring. In a lawsuit filed on Monday in US bankruptcy court in Manhattan, Kodak said Apple, the largest US company by market value, wrongly claims to own 10 patents arising from work that the companies did together in the early 1990s....
10:00 AM, Jun 20, 2012
Bangalore: Eastman Kodak Co, which filed for bankruptcy protection in January, said it agreed to sell its on-line photo services business to "stalking horse" bidder Shutterfly Inc for $23.8 million. A "stalking horse" bid is used as a starting bid or minimally accepted offer that other interested bidders must surpass if they want to buy the company. Shutterfly shares rose 18 per cent to $31.70 in extended trade, following the...
12:26 PM, Mar 02, 2012
Beijing: Chinese acrobats will perform at the Academy Awards for the first time on Sunday, hitting the stage in Los Angeles at the Kodak Theater as part of the ceremony. Nine performers from east China's Shandong Province will perform grueling feats of physical prowess, Zhou Yonghui, the acrobatic team's coach said. No stage props will be used by the performers, Zhou said, adding that the performers won high honors at...
03:26 AM, Feb 26, 2012
New York: Apple Inc has asked a bankruptcy court for permission to sue Eastman Kodak, accusing it of infringing its patents. In a court filing on Tuesday in New York federal bankruptcy court, Apple said it wanted to file a complaint against Kodak at the International Trade Commission. Apple said the suit would seek to bar Kodak from importing various products, such as printers and digital cameras, that it believes...
10:33 AM, Feb 16, 2012
Rochester: Picture it: Save for a few disposable point-and-shoots, Kodak is exiting the camera business. Eastman Kodak Co. said Thursday that it will stop making digital cameras, pocket video cameras and digital picture frames in a move that marks the end of an era for the beleaguered 132-year-old company. Founded by George Eastman in 1880, Kodak was known all over the world for iconic cameras such as the Brownie and...
10:46 AM, Feb 10, 2012
Buffalo, New York: Eastman Kodak Co. wants to end its contract for naming rights to the glamorous Los Angeles theater that hosts the Academy Awards as it tries to improve its financial position enough to move out of bankruptcy. The photography pioneer's financial advisers say the benefits of having the company's name on the 3,300-seat Kodak Theatre aren't worth the contract's cost, according to a motion filed in US Bankruptcy...
01:06 PM, Feb 03, 2012
Rochester: Eastman Kodak Co. has a little over a year to reshape its money-losing businesses and deliver a get-out-of-bankruptcy plan. Girded by a $950 million financing deal with Citigroup Inc., the photography pioneer aims to keep operating normally during bankruptcy while it peddles a trove of digital-imaging patents. After years of mammoth cost-cutting and turnaround efforts, Kodak ran short of cash and sought protection from its creditors Thursday. It is...
11:53 AM, Jan 21, 2012
Chicago: Even in bankruptcy, Kodak boasts some enviable strengths: a golden brand, technology firepower that includes a rich collection of photo patents, and more than $4 billion in annual sales of digital cameras, printers, and inks. But all that may not be enough to revive its declining fortunes in a Chapter 11 overhaul. Kodak is at a crossroads: It could go the way of fallen Montgomery Ward and Circuit City,...
02:40 PM, Jan 20, 2012
Los Angeles: Kodak's star may never shine again in Hollywood. The bankruptcy of the American icon that invented the handheld camera is reverberating beyond Wall Street and around the world's entertainment capital. Insiders say Hollywood may be on the verge of scaling back a decades-old symbiotic relationship, and seeking business alternatives. Kodak's star began to fade in the late 1990s as digital technology began chipping away at its century-long stronghold...
01:30 PM, Jan 20, 2012
Washington: Eastman Kodak Co, which invented the hand-held camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for one of America's best-known companies. The more than 130-year-old photographic film pioneer, which had tried to restructure to become a seller of consumer products like cameras, said it had also obtained a $950 million, 18-month credit facility from Citigroup to...
02:19 PM, Jan 19, 2012
New York: The struggling Eastman Kodak Co on Tuesday sued Apple Inc, whose market value is more than 2,400 times greater, accusing it of infringing four patents related to digital camera images. Kodak also sued Taiwan's HTC Corp, alleging violations of the four patents as well as a fifth. It said it filed a related complaint against both companies with the US International Trade Commission. Apple did not immediately respond...
08:58 AM, Jan 11, 2012
New Delhi: Eastman Kodak is preparing a Chapter 11 bankruptcy protection filing in case it is unable to sell its digital patents to raise capital, The Wall Street Journal reported on Wednesday. The once-iconic photographic film pioneer is in talks with potential lenders to secure about $1 billion in debtor-in possession financing to sustain Kodak through bankruptcy proceedings, the Journal reported, citing unidentified sources. The Chapter 11 filing could come...
01:10 PM, Jan 05, 2012
San Francisco: The third director in a week has resigned from Eastman Kodak Co as the former film giant struggles to survive the dominance of digital photography. Laura Tyson, a professor and White House advisor, told Kodak on Thursday she was resigning from its board, the company said on Friday in a Securities and Exchange filing. Kodak, which was once synonymous with photography, is looking to sell patents to shore...
12:27 PM, Jan 01, 2012
New York: Kodak - the company that invented the first digital camera in 1975, and developed the photo technology inside most cellphones and digital devices - is in the midst of the worst crisis in its 131-year history. Now, caught between ruin and revival, Eastman Kodak Co. is reaching ever more deeply into its intellectual treasure chest, betting that a big cash infusion from the sale of 1,100 digital-imaging inventions...
08:47 AM, Oct 31, 2011
New York: Eastman Kodak is shopping around its patents for digital imaging, responding to investor complaints that the photography company has failed to capitalise on red-hot demand for tech patents. Kodak said on Wednesday it has hired Lazard to advise on strategic options for its patents related to capturing and editing images, which represent about 10 per cent of its US patent portfolio. The entire portfolio could be worth up...
02:36 PM, Jul 21, 2011
