Initial bidding on Kodak patents closes today
Posted at: 07/30/2012 3:49 AM
By: News10NBC | WHEC.com
The initial bidding will close Monday as Kodak tries to auction off its patents.
According to the Wall Street Journal, technology giants like Google and Apple are lining up to get the biggest piece of the pie. Kodak says the 1,100 patents could be worth up to $2.6 billion. The company is using the auction to raise money, pay off lenders and get out of bankruptcy.
The actual auction is scheduled for August 8.