Kodak Patent Opening Bids Come In Low

Published on August 6, 2012
by Dana Mattioli, Ashby Jones and Mike Spector

Opening bids for Eastman Kodak Co.’s digital patents came in far below the $2.6 billion the company said they could be worth, an early sign the bankruptcy-court auction may not leave much cash for the company after creditors are paid off.

Kodak received two bids from investor groups pitting Silicon Valley giants Apple Inc. and Google Inc. against each other ahead of an auction set for Wednesday, people familiar with the process said. The bids from the two teams came in around $150 million to $250 million, the people said.

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