Report: Kodak gets patent bid from Apple, Google

Report: Kodak gets patent bid from Apple, Google

Credit: Getty Images

LAS VEGAS - JANUARY 08: Kodak's Larry Landry (L) shows Nth Degree's Mike Tedeschi Kodak digital picture frames at the Kodak booth at the 2009 International Consumer Electronics Show at the Las Vegas Convention Center January 8, 2009 in Las Vegas, Nevada. CES, the world's largest annual consumer technology trade show, runs through January 11 and features 2,700 exhibitors showing off their latest products and services to more than 130,000 attendees. (Photo by Ethan Miller/Getty Images)

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KMOV.com

Posted on December 11, 2012 at 10:02 AM

    NEW YORK (AP) -- Apple and Google, bitter rivals in smartphone technology, have joined up to make a combined bid for a bundle of patents offered by photography pioneer Kodak, according to a published report.

   Bloomberg News reported Saturday that Apple Inc. and Google Inc. have abandoned competing bids for the portfolio to offer a combined $500 million. The sum is the minimum Kodak can sell the patents for and still get an $830 million loan that's crucial to getting the company out of bankruptcy.

   Apple and Google declined to comment on the report. A Kodak representative did not immediately respond to a request for comment.

   Kodak filed for Chapter 11 bankruptcy protection in January after struggling to adapt to the world of digital photography.

 

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