Kodak to receive $525M from sale of patents
Eastman Kodak will receive about $525 million from the sale of its digital imaging patents, money the struggling photo pioneer says will help it emerge from bankruptcy protection next year.
The Rochester, N.Y., company filed for bankruptcy protection in January after struggling to adapt to the shift to digital photography.
Eastman Kodak Co. said the patent sale will help it repay a substantial amount of its initial debtor-in-possession loan, and it satisfies a key condition of new financing that required the sale of the patents for at least $500 million.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Shell shovels millions into proposed Beaver County plant site
- Extended oil slump takes toll
- Muni bond funds stressed
- Of Caitlyn Jenner and workplace restrooms
- When it comes to home ownership, Hispanics finding locked doors
- Companies hand out perks, benefits instead of pay raises
- Off-duty but on call: Suits seek overtime
- Tech Q&A: Why you should test your router
- Small business hangs on fate of Export-Import Bank
- FirstEnergy to build coal waste processing facility in Beaver County
- Bond funds hold onto cash