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Update on Kodak patent auction

Posted at: 08/16/2012 10:07 AM
Updated at: 08/16/2012 10:18 AM

In a statement to News10NBC Thursday morning, Kodak says it is not ready to announce the outcome of the auction process.

The company says it continues to have discussions with potential buyers of its digital imaging patent portfolio.

According to the statement, Kodak says it hasn’t reached a decision to sell the portfolio and may hold on to all or parts of it if the company decides "doing so is in the best interest of the estate."

Kodak's full statement:
"Kodak continues to have active discussions with potential buyers of its digital imaging patent portfolio. As a result, Kodak is not yet prepared to announce the outcome of the auction process. The company reiterates that it has not reached a determination or agreement to sell the digital imaging patent portfolio, and may retain all or parts of it as a source of creditor recoveries in lieu of a sale if it concludes that doing so is in the best interests of the estate."