TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Kodak to receive $525M from sale of patents

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

EKDKQ $0.19 -$0.02

at close on WEDNESDAY

Daily Photo Galleries

By The Associated Press
Thursday, Dec. 20, 2012, 12:01 a.m.
 

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Wolf reverses Corbett, says deal between Highmark, UPMC doesn’t limit continuity of care to very ill
  2. Big banks’ levels of capital strong, Federal Reserve finds
  3. Race toward bigger phones eases
  4. Researchers: U.S. lacks proving ground for nuclear energy innovations
  5. AbbVie to buy leukemia drugmaker Pharmacyclics for $21 billion
  6. Americans see improved job market but a vulnerable economy, Pew poll finds
  7. IPO might test Etsy’s approach to commerce
  8. Mud serves as multipurpose tool in $100B shale industry
  9. Easier home loan rules worry some
  10. Stocks snap losing streak as ECB reveals stimulus start date
  11. Worker productivity falls faster than estimated; labor costs rise