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Eastman Kodak has announced that the company has agreed to sell its online photo gallery services to Shutterfly, another web-based photo service provider. The struggling photography and print giant made the announcement of the $23.8 million deal after the close of markets on Thursday.
The deal comes as part of a court-supervised auction process for various assets of the Eastman Kodak Company, which filed for bankruptcy in January. The company has $6.75 billion in debts owed to more than 100,000 parties.
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- Companies:
- Eastman Kodak Co.
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Kyle A. Richardson
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Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.
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