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View Full Version : Kodak gets life-saving loan of $793 million‚??if it can sell its patents


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11-13-12, 05:30 AM
Kodak has signed a deal to get a lifeline of $793 million in credit from its bondholders, which would allow the company to emerge from bankruptcy. There's one catch, though: the company has to sell its portfolio of 1,100 patents for at least $500 million to get the rest of the cash, according to a report (http://online.wsj.com/article/SB10000872396390444233104577593681054808606.html) in the¬*Wall Street Journal.

Those interested in bidding on the patents include the same coalition of "strange bedfellows" that have been talked about (http://arstechnica.com/apple/2012/08/rivals-apple-google-samsung-reportedly-team-up-to-buy-kodak-patents/) for months as possible buyers. The group includes major smartphone companies like Apple, Google, and Samsung, as well as patent aggregators like RPX Corp. and Intellectual Ventures.

The bondholders include¬*J.P. Morgan Securities and UBS AG, among others, according to WSJ sources. The board met last night to approve the deal, and a bankruptcy judge must give the OK as well.

Read 3 remaining paragraphs (http://arstechnica.com/tech-policy/2012/11/kodak-gets-life-saving-loan-of-793-million-if-it-can-sell-its-patents/) | Comments (http://arstechnica.com/tech-policy/2012/11/kodak-gets-life-saving-loan-of-793-million-if-it-can-sell-its-patents/?comments=1#comments-bar)



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