Kodak agrees to sell online gallery to Shutterfly

Mar 01, 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: EU Parliament votes to break up Google

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Kodak gets 2013 deadline to reorganize

Jan 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.

Kodak restructures amid bankruptcy battle

Jan 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 tries to quash bankruptcy fears; shares jump

Oct 03, 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.

Recommended for you

EU Parliament votes to break up Google

17 hours ago

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

22 hours ago

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

Nov 26, 2014

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

User comments : 0

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.