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Bankrupt Kodak is selling the patents, which it believes could be worth $2.6 billion, in order to repay creditors. Kodak filed for Chapter 11 protection in January after failing to adequately adapt during the shift from film to digital photograph.
Court-ordered confidentiality surrounding the auction process means Kodak could not comment on the WSJ report, but spokeswoman Stefanie Goodsell did say, “Kodak believes that speculation about the details and potential outcome of the auction is inappropriate.”
Bids can often rise quickly in bankruptcy auctions. Nortel Networks in 2011 sold its patent portfolio for $4.5 billion after initial bids came in at just $900 million.
Kodak’s auction begins Wednesday morning.
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