Kodak seeks Chapter 11 protection
A recent prediction that Kodak was on the verge of bankruptcy has proven true with the iconic American company officially filing for bankruptcy protection. Despite a number of restructuring attempts as well as the sale of patents and a string of patent suits seeking damages, the 130-year old pioneering photographic company was forced to seek protection from creditors. It has also secured $950 million in credit from Citibank while its buys time to sell some of its 1,100 patents, and reposition itself while also maintaining the salaries of its 17,000 employees, reports Reuters.
Kodak raises tens of millions in IMAX patent deal
Kodak has made good on its intent to sell off patents that it holds as it seeks to stabilize its weakened financial position. While the company has thousands of patents in their portfolio, its latest official patent sale pertains to laser projection and other technology that has been purchased by the IMAX cinema group. The licensing deal is said to be worth tens of millions of dollars.
3net all 3D TV network launches this Saturday
A network fully dedicated to broadcasting 3D TV signals will launch on February 13. Called 3net, it will be offered by DirecTV on channel 107 and is a joint venture between Sony, Discovery Communications and IMAX. On the 13th, the channel will air two one-hour long, original programs in native 3D, China Revealed and Forgotten Planet. A longer movie, Into The Deep 3D, will make its TV debut afterwards.
Sony may snap up IMAX
Rumors have surfaced today from a pair of sources that Sony is in talks to buy big-screen movie technology firm IMAX. The deal would purportedly see Sony pay $40 per share for a takeover. The deal mentioned by BNN and the Daily Mail would be timed to seize on a swing back to profit and market performance well ahead of expectations.
Spider-man reboot being shot with RED's EPIC cams
The RED user forum is afire with news of the RED EPIC camera being used to shoot the next Spider-Man movie, due for a release in 2012. The filming with four of the high-end devices started on Monday, and the cameras are also being used to film The Hobbit, as reported earlier, though 30 EPICs were purchased for this purpose. This movie is also due for a 2012 release, but Spider-Man started shooting first.