TribLIVE

| Business


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

Kodak to receive $525M from sale of patents

Email Newsletters

Click here to sign up for one of our email newsletters.

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

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. Shareholders approve Heinz, Kraft merger
  2. Halliburton to close Indiana County office
  3. Data transfer in mergers tall task for chief information officer for Peoples Gas
  4. Big Heart Pet Brands to leave Pittsburgh, affecting 225 jobs
  5. U.S. Steel, Alcoa lead June decline
  6. United Airlines announces investment in biofuel supplier Fulcrum BioEnergy
  7. Obama overtime proposal slammed
  8. Drillers to submit electronic records on fracking chemicals to Pa. DEP
  9. W.Pa. economy gains momentum as employers increase hiring
  10. Heinz executives to dominate post-merger management of Kraft Heinz Co.
  11. Consol again reworks offering for coal spinoff