Broadcast News

Bookmark and Share
19/01/2012

Kodak File For Bankruptcy Protection

News Image
Kodak, the company that invented the hand-held camera and helped bring back some of the first pictures from the moon, has filed for bankruptcy protection.
The US-based company has made the move in a bid to gain more time to restructure and deal with creditors.
They claim that it will be "business as normal" for their customers. Kodak expects to pay employee wages and benefits and continue customer programs.
It is understood that the firm has struggled to keep up with its competitors in the new digital era.
The 133-year-old firm recently tried to restructure to become a seller of consumer products like cameras and it also obtained a $950 million, 18-month credit facility from Citigroup to keep it going.
The loan and bankruptcy protection from US trade creditors it is hoped will give Kodak the time it needs to find buyers for some of its 1,100 digital patents, the key to its remaining value, and to reshape its business while continuing to pay its 17,000 workers.
(LB/DW)
VMI.TV Ltd

Top Related Stories
Click here for the latest broadcast news stories.

13/03/2024
ThinkAnalytics Appoints SVP Business Development, Strategy, And Partnerships
ThinkAnalytics has announced that following the appointment of Marc Aldrich, Worldwide CEO, Roger Sherwood, SVP Professional Services and Andrew Read,
15/12/2023
Ross Video To Exit LED Display Business
Ross Video has announced plans to exit the LED display business and is now considering strategic opportunities for D3LED. While this process takes pla
12/12/2023
Pip Studios Appoints Head Of Client Services And Business Development
Pip Studios, part of Molinare Creative Group, has appointed Shannon Sewell as Head of Client Services and Business Development. The appointment solidi
09/10/2023
ARRI Appoints VP Product Management Business Unit Lighting
Michael Huelskemper has joined ARRI as Vice President Product Management Business Unit Lighting. In this role, he is responsible for further developin
22/08/2023
TMT Insights Transforms Business Transformation Initiatives
TMT Insights is accelerating business transformation initiatives with the formation of a new division, Media Operations (MediaOps). The new group addr
09/08/2023
RTW Appoints New International Business Development Manager
RTW, a renowned manufacturer of audio metering solutions, has appointed Carl Kurlanda as its new International Business Development Manager. Kurlanda
05/04/2023
Brainstorm Celebrates 30 Successful Years In Business
Brainstorm is to exhibit at the NAB Show for the 25th time. Brainstorm is proud of this commitment with the industry that underlines how a company foc
29/03/2023
ARRI Solutions To Become Its Own Business Unit
ARRI is elevating ARRI Solutions to become its own business unit and has established two new senior management positions. The business unit is led by
23/03/2023
Lawo Sets Up CTO Office To Achieve Strategi Business Goals
In light of the company's rapid growth and the obvious necessity to provide its customers with innovative answers to new workflow models, Lawo has est
22/03/2023
VO To Showcase How Its TV Operators Grow Their Business With Sustainable Technologies
Viaccess-Orca (VO) will showcase how it is empowering TV operators and service providers to grow their business with sustainable technologies at NAB 2
17/05/2023
Sky And Sony Pictures Television To Continue Partnership
Sky and Sony Pictures Television (SPT) have agreed a multi-year continuation of their partnership, which will see major SPT feature films and SPT tele
27/02/2023
Martin Audio Continues To Keep Ahead Of The Curve
In an evolving post-pandemic world, Martin Audio has continued to keep ahead of the curve in its method of introducing new products to a global custom
19/01/2024
Netflix Acquires Nippon TV's Time Loop Drama 'Rebooting'
Nippon TV has announced that Netflix has acquired the company's multiple-award-winning time loop drama series Rebooting to stream on Netflix in APAC c
03/11/2023
Scality Named An 8-time Leader In The Gartner Magic Quadrantâ„¢
Scality has been named by Gartner® as a Leader in the 2023 Magic Quadrant™ for Distributed File Systems and Object Storage, marking the eighth year in
07/06/2023
Brainstorm Celebrates 30 Years In Business
Brainstorm is celebrating 30 years in business at Broadcast Asia. The firm is exhibiting in Singapore, from 6 to 9 June. Brainstorm underlines how a c