Wall Street Journal: Kodak receives a bid for patents

Posted at: 12/05/2012 11:45 PM

The Wall Street Journal reports that Kodak has received a bid for its digital patent portfolio.

According to the Journal, a consortium of bidders has offered more than $500 million dollars for the patents.

People familiar with the offer tell the paper that no final deal has been reached yet. Brennan Redmond of Brighton Securities says a patent sale is one of three things Kodak needs to do to emerge from bankruptcy. He says consumers will see a much different Kodak.

Redmond says, "The things that people have been used to seeing regarding Kodak: film in the checkout aisles of Wegmans, the digital cameras at Best Buy are gone."