ADVFN - Advanced Financial Network.
HOME» NASDAQ » A » AAPL Stock Price » AAPL Stock News

Apple Share News

 Apple Inc. (mm) Stock Price
AAPL Stock Price
 Apple Inc. (mm) Stock Chart
AAPL Stock Chart
 Apple Inc. (mm) Stock News
AAPL Stock News
 Apple Inc. (mm) Company Information
AAPL Company Information
 Apple Inc. (mm) Stock Trades
AAPL Stock Trades

Kodak Reaches Film Deals with Four Movie Studios

--Deal includes four major motion-picture studios --Payments to studios will get high priority in Kodak's bankruptcy case --Kodak film has shot 80 "Best Picture" Oscar-winning films NEW YORK--Eastman Kodak Co. (EKDKQ) forged new deals with movie-studio partners including Walt Disney Co. (DIS) and Warner Bros. Entertainment Inc. that should ensure movie cameras stay loaded with Kodak film until at least 2015. In a Tuesday filing light on details, Kodak said it will seek a judge's approval to cancel its old agreements with the studios and replace them with new ones with different terms, including an increase of the price for the film used in cameras and to print films in theaters. The filing, made with U.S. Bankruptcy Court in Manhattan, also contains a clause that would allow Kodak to get out of motion-picture-film manufacturing by giving the studios 180 days' notice. A hearing on the matter was set for Sept. 19. The agreement, which also includes NBC Universal Inc. and Paramount Pictures Corp., has the support of Kodak's official committee of unsecured creditors. As part of the agreement, the studios get "administrative" status on their claims against Kodak, meaning payments to the studios are at the top of the totem pole in Kodak's bankruptcy case. Essentially, Kodak's deals with the movie studios bring the old ones up to date, considering 2012 film and commodity prices. They also ensure the movie studios will keep buying a specified volume of Kodak's film, with Kodak continuing to give the studios rebates and discounts. In its filing, Kodak said it owes the studios $26.6 million for such incentive programs. Kodak didn't provide more specific details on the terms of the contract, citing confidentiality concerns. "Kodak is pleased to be able to extend its longstanding relationships with these important motion picture customers," said Kim Snyder, president of Kodak's Entertainment Imaging division. "We're very happy to see their confidence in the Kodak brand by signing multiyear agreements with us." Longstanding relationships with the movie studios contribute to Kodak's status as an iconic company--80 "Best Picture" Oscar winners were shot with Kodak film, according to the company--but they aren't a key factor in the company's reorganization. In its latest annual report filed with the Securities & Exchange Commission, Kodak said the unit related to motion-picture film accounted for 9% of the company's 2011 revenue. Instead, the reorganization hinges on the company's digital-patent-portfolio auction, the results of which Kodak delayed announcing earlier this week. The patents, which Kodak hoped could fetch more than $2 billion, received opening bids of less than $500 million, The Wall Street Journal reported. While a bidding war between suitors including Google Inc. (GOOG) and Apple Inc. (AAPL) could ensue, the low bids suggest the company might struggle to raise the money it needs repay its creditors and reorganize successfully. Kodak, based in Rochester, N.Y., filed for Chapter 11 protection in January after failing to sell its patents outside of bankruptcy court. The company's photography-driven business became marginalized by increased digital competition, and it struggled with high labor and pension costs. In February, Kodak said it will close its camera business, which makes digital cameras, pocket video cameras and digital picture frames, in a move that could save it $100 million annually. Kodak intends to focus on retail and desktop-inkjet printing rather than photography after it completes its restructuring. (Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to ) -Write to Joseph Checkler at joseph.checkler@dowjones.com. Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Apple (AAPL)
DateTimeHeadline
10/24/201412:00:18TECH STOCKS: Microsoft Gains Help Lead Tech's Advance
10/23/201419:49:24Apple's Ex-Retail Chief Readies Service for Web Shoppers
10/23/201411:10:27TECH STOCKS: Tech Stocks Rise Ahead Of Microsoft, Amazon Earnings
10/23/201409:49:25U.S. Hot Stocks: Hot Stocks to Watch
10/22/201409:06:36MARKET SNAPSHOT: U.S. Stocks: Futures Waver, But Boeing Gains...
10/22/201408:37:00MARKET SNAPSHOT: U.S. Stocks Jump; Nasdaq Enjoys Best Day In...
10/22/201408:01:41Hong Kong Protests Expose Differences in Local Media
10/22/201405:46:19MARKET SNAPSHOT: U.S. Stocks: Futures Dip; Boeing Results, Inflation...
10/21/201422:30:11Asian Shares Gain, Led By Japan
10/21/201417:29:45Apple's iCloud Service Under Attack in Mainland China
10/21/201417:28:25Apple's iCloud Service Under Attack in Mainland China--Update
10/21/201417:28:19Apple Says iCloud Servers Not Compromised
10/21/201417:24:50MARKET SNAPSHOT: U.S. Stocks Rally; S&P 500 Above Key Level
10/21/201417:17:36TECH STOCKS: Apple Leads Broad Tech Push North
10/21/201417:13:32MARKET SNAPSHOT: U.S. Stocks Gain; Apple Rallies On Results
10/21/201417:11:30MARKET SNAPSHOT: U.S. Stocks: Futures Gain; ECB Plays Down Stimulus...
10/21/201417:01:16MARKET SNAPSHOT: U.S. Stocks: Futures Gain As Apple Climbs, ECB...
10/21/201412:52:43ARM Holdings Profit Swings Higher
10/21/201412:52:43BAE Boosts Cybersecurity Arm
10/21/201412:00:52European Stock Markets Edge Higher

Apple Computer and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad