Kodak agrees to sell online gallery to Shutterfly

March 1, 2012

(AP) -- Eastman Kodak Co. said Thursday it plans to sell its online photo service business to online photo publishing company Shutterfly Inc. for $23.8 million.

Eastman Kodak filed for in January and said it is narrowing its focus to its core printer businesses. A bankruptcy court will review the proposed sale of Kodak Gallery.

The company said Kodak Gallery has more than 75 million users. Kodak customers who don't want their photos transferred to Shutterfly can opt out and get their photos through free downloads or buying DVDs from Kodak Gallery.

Shutterfly stock, which fell 45 cents to close Thursday at $26.91, climbed $3.79, or 14.1 percent, to $30.70 in aftermarket trading following the announcement.

Explore further: Kodak shares plunge as bankruptcy fears escalate


Related Stories

Kodak tries to quash bankruptcy fears; shares jump

October 3, 2011

(AP) -- Eastman Kodak Co. shares soared more than 57 percent Monday after the photo company tried to quash investor fears of a bankruptcy, which had caused shares to lose more than half their value on Friday.

Kodak restructures amid bankruptcy battle

January 10, 2012

US photography giant Eastman Kodak, fighting to keep bankruptcy at bay, announced Tuesday a major restructuring to speed up its transformation into a digital company.

Kodak gets 2013 deadline to reorganize

January 20, 2012

(AP) -- Eastman Kodak Co. has obtained a bankruptcy judge's approval to borrow an initial $650 million from Citigroup Inc. to keep operations running while it peddles a trove of digital-imaging patents.

Recommended for you

The ethics of robot love

November 25, 2015

There was to have been a conference in Malaysia last week called Love and Sex with Robots but it was cancelled. Malaysian police branded it "illegal" and "ridiculous". "There is nothing scientific about sex with robots," ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.