Kodak selling off its film business
Down at Kodak headquarters, everything is priced to move. BARGAINS BARGAINS BARGAINS as the company attempts to pay off creditors. The bankrupt company has put its print film business, the foundation of the once-mighty Eastman Kodak empire, on the block, along with photo kiosks, scanners, and a bunch of patents. The patents are being sold even though the company is involved in litigation related to those patents. So whoever buys the patents gets the hassle of lawsuits FREE! since those suits will apparently go forward.
Kodak filed for bankruptcy after years of burning through cash while digital photography eroded its film business. The company had spent $3.4 billion on restructuring before bankruptcy, including payouts to fire 47,000 employees since 2003, closing 13 factories that produced film, paper and chemicals, and 130 photo laboratories.
Kodak is planning to also hold on to its buggy whip division, it’s Betamax line of products, and its complete set of Matthew Perry movie DVDs.