Tuesday, August 14, 2012

Kodak patent auction drags on past deadline


Eastman Kodak failed to announce a winner for its patent bid yesterday, saying that the process is still "ongoing."


Kodak, which was supposed to announce the winners by 2 p.m. PT yesterday, said just minutes before the deadline that it was extending the time for its announcement. The company said that its creditors were onboard with the move, and indicated that all participants were still bound by a "court order on confidentiality."


"Kodak and its creditors have agreed to extend the timeline for announcing the outcome of the patent auction in light of continuing discussions with bidders," Kodak said in a statement. "The auction, which is a complex and dynamic process, is ongoing."


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