Posts Tagged ‘sale’
It’s a sad day for film photographers: Kodak has announced that it will sell off its camera film business, one of the huge pillars of what made Kodak Kodak in the eyes of consumers around the world. It’s yet another step in the company’s effort to climb out of bankruptcy, which it hopes to do by next year, and transform itself into a commercial printing company.
When it comes to photography agencies, Getty Images reigns supreme. Founded in 1995 by Mark Getty and Jonathan Klein, the Seattle-based behemoth in many ways took stock and editorial photography into the digital age, causing the slow decline of “former-rulers” like the AP. Between Getty’s editorial supremacy and the rise of an era where photojournalists find themselves replaced sometimes by average Joe’s with smartphones, the last few years have consisted mostly of the AP trying to staunch the bleeding. But now it seems they’re ready to fight back. Read more…
PDN has published an interview with art collector Jonathan Sobel, who’s suing photographer William Eggleston for creating and selling new prints of iconic photos that were once sold as “limited edition” prints. The new prints that recently fetched $5.9 million at auction were digital prints that were larger than the original ones.
The dispute boils down to this question: If an artist produces and sells a limited edition of a photographic work, and then re-issues the same image in a different size, or in a different print format or medium, does the re-issue qualify as a separate edition? Or do the new prints breach New York law that defines “limited edition,” and therefore defraud the buyers of those original limited edition versions of the work?
The answer could have a significant effect on the photographic print market. A number of photographers issue limited editions of their works, then later issue new editions of the same works, reprinted at different sizes or in different mediums. The reason is obvious: When an edition sells out, and scarcity drives up the price, artists want to cash in on pent up demand.
Sobel, who has spent 10 years studying and collecting Eggleston’s work, claims that eight of his prints that were previously worth $850,000 have been devalued by the recent sale.
Back in November of last year, we reported that Kodak had put its Kodak Gallery service up for sale and was hoping to offload it for “hundreds of millions of dollars”. A couple months later Kodak filed for Chapter 11 bankruptcy, and now the company has finally found a buyer for the photo sharing and printing service: Shutterfly. The sale price? Only $23.8 million. If the sale gets approved by the US Bankruptcy Court in March, Kodak Gallery’s 75 million users will be transferred over to Shutterfly unless they opt out.
Adorama had a Valentine’s Day discount on Adobe Lightroom 3 yesterday, pricing it at just $80. It’s back to $135 now, but if you missed out, you now have another chance: B&H has decided to one-up Adorama by selling the program for just $70. The sale will last until the end of today, so you might want to act fast this time if you’ve been on the fence.
Adobe Photoshop Lightroom 3 [B&H Photo Video]
Thanks for sending in the tip, Peter!
Kodak is burning through $70 million every month and desperately trying to stay alive by selling off divisions that other companies are willing to buy. After selling off its sensor business last month, the company announced yesterday that it has agreed to sell off its gelatin business (called) Eastman Gelatine) to Rousselot, the world’s leader gelatin producer. Gelatin is one of the main components used in photographic film and paper, so this certainly can’t be good news for Kodak’s future in film photography. Terms of the deal weren’t disclosed.
(via The Wall Street Journal)
Earlier this month, Kodak sold off its sensor business in an effort to raise some cash to stay alive and hopefully turn things around. Now the company is looking to get even leaner by selling off its online photo sharing business. Photo sharing? Kodak? Yup, it’s called Kodak Gallery. While it’s not surprising that the camera maker has online services, what might be surprising is the price they’re looking to sell it for: according to the Wall Street Journal, it’s in the “hundreds of millions of dollars.”
Kodak first jumped into the online photo sharing and printing game in 2001, when it purchased Ofoto for somewhere south of $100 million. The service reportedly amassed 75 million customers worldwide and was bringing in $150 million in annual revenue at its peak. However, it has never been profitable and last month saw only 1.5 million visitors. In addition to the service itself, Kodak is selling off some of its valuable patents related to uploading and sharing photos online.
After arriving late to the digital photography party, Kodak took another step away from the market yesterday by selling off its sensor business to CA-based firm Platinum Equity. The sale of Kodak Image Sensor Solutions (KISS) — which includes the company’s 263,000 square foot facility in Rochester — will hopefully give Kodak the boost of cash it needs to avoid bankruptcy and turn into a healthy business. Kodak sensors are found in a number of popular cameras, including the Leica M9 and S2.
The company is also looking into selling a chunk of its patents to raise more cash, which will help it in its current efforts to transform into a printer and ink company.