Eastman Kodak to cut more jobs
| Reuters
Kodak, which invented the digital camera but
had trouble adjusting to the digital age, was betting on an auction of
its 1,100 patents to raise funds to repay money borrowed to finance its bankruptcy.
The
company, which estimates its patents to be worth between $2.2 billion
and $2.6 billion, received only sub-$500 million bids from investor
groups, including Apple Inc and Google Inc, according to media reports.
Kodak
has declined to comment on the sale and has delayed several times a
bankruptcy court hearing during which it would reveal the details of the
sale. The hearing on the sale was first set for August 20 and is now
scheduled for September 19.
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