Sell Off
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Kodak to sell the film business that made it so famous (update)
Kodak is selling off its renowned film arm in order to revive its moribund fortunes. It'll join sales of the company's patent portfolio, online gallery, commercial scanning, photo kiosk and theme park businesses so it can concentrate on a not-yet successful printer enterprise. It needs to raise more than $660 million to pay back creditors before it can emerge from Chapter 11, which it aims to do early next year -- but not in any form that we're likely to recognize. [Image Credit: MercerFilm] Update: The company got in touch to say that while those parts of the business are being put up for sale, manufacturing, sales and marketing of Kodak-branded film products (and motion picture products) will remain within the Eastman-Kodak company.
Vringo buys small Nokia patent portfolio as asset sell-off continues
Nokia's sale of the century hour continues, selling off a small intellectual property portfolio to Vringo. The little-known app maker has snapped up a bundle of 500 patents and applications from the Finnish phone maker, including 109 issued US Patents. The collection mostly concerns backbone tech, including communication management, signal transmission and cellular infrastructure. Neither company mentioned a figure, but Vringo revealed that Nokia's getting a chunk of any future profits made. There's PR after the break if you're curious enough to wonder if Stephen Elop's planning the mobile phone equivalent of a yard sale.
Google reportedly considering sell-off of Motorola's set-top box business
This one is still far from a sure thing and would represent something of an about-face from earlier statements made by CEO Larry Page, but The New York Post is reporting today that Google may be looking to sell-off Motorola Mobility's set-top box division as its $12.5 billion acquisition of the company nears a close. Specifically, the Post reports that Google has brought on Qatalyst Partners and Barclays Capital to help shop the business around, and the paper's sources say that Google is "highly likely" to sell-off the division, at least partly because cable operators have "shunned" buying Motorola set-top boxes ahead of the acquisition. Details get decidedly murkier beyond that, with one source only going so far as to ballpark a possible sale price at anywhere from $2.5 to $4 billion. For its part, Google said only that it doesn't "comment on rumor or speculation."
AT&T reportedly talking to rivals about asset sales in effort to save T-Mobile deal
It's far too early to be writing it off, of course, but AT&T's proposed acquisition of T-Mobile is facing some fairly significant hurdles that could throw a big wrench in the companies' plans -- not the least of which is a lawsuit from the US Department of Justice. Now, according to Blooomberg, AT&T is proactively talking to a number of smaller rivals about selling some of its assets (namely, "spectrum and subscribers") in an effort to save the deal. While talks are described as "preliminary," AT&T has reportedly already reached out to MetroPCS, Leap Wireless, Dish Network, CenturyLink and even Sprint, although Bloomberg notes that any such sell-off may still not be enough to please the DOJ. As you might expect, all of those companies are remaining mum on the matter.
Compromised account leads to massive Bitcoin sell off, EFF reconsiders use of currency
Bitcoin, for those not aware, is a completely digital currency -- one where exchanges between individuals are largely anonymous and secured through cryptography, and one that has seen its hype-meter go off the charts in recent months. That, inevitably, has had some people waiting for a fall, and it took a big one this week. While things have since bounced back, the value of the currency on the so-called Mt. Gox exchange dropped from around $17.50 to just one cent in a matter of moments during the early hours of June 20th -- a drop that's since been attributed to a compromised account. Thanks to a daily withdrawal limit, however, that apparently only resulted in $1,000 actually being stolen, and a claims process has now been set up for those affected. While not directly related to the sell off, the Electronic Frontier Foundation (or EFF) also dealt a bit of a blow to the upstart currency this week, when it announced that it would no longer be accepting Bitcoin donations. According to the organization, that's both because it doesn't "fully understand the complex legal issues involved with creating a new currency system," and because it doesn't want its acceptance of Bitcoins misconstrued as an endorsement of Bitcoin. Head on past the break for an account of the aforementioned plunge as it happened. [Thanks, Zigmar; image: Wikipedia]
Analyst says Motorola "would be lucky" to get $500 million
Things have been looking pretty bleak for Motorola and its attempts to salvage its handset division for some time now, but a number of analysts are now painting an even clearer picture of just how bad things might be. According to BusinessWeek, some analysts are saying that with spin-off plans looking less and less likely, Motorola may revert back to its original plan to sell off the handset division outright, although Envisioneering Group's Richard Doherty says it "would be lucky to fetch $500 million." As BusinessWeek points out, that very same analyst pegged the business at a hefty $8 billion just last year. Analyst Richard Windsor of Nomura even went so far as to say that Motorola might actually have to pay someone to take the division off its hands. Now that's an idea we can get behind.[Via Unwired View]
Nintendo shares hit 7-month low on recession fears
Seems the money-market-fueled stock dip Nintendo suffered last week isn't over yet. Bloomberg is reporting that the company's stock tumbled down 5.9 percent today to its lowest point since early July '07.The reason for the precipitous fall isn't so much Nintendo's recent performance -- the company is still more profitable than a solid-gold hippopotamus that periodically spits out smaller golden hippopatami. According to Bloomberg, the stock sell-off for Nintendo and other export-based Japanese companies seems to be based on the recently reported rapid contraction of the U.S. service industry, which has also caused problems for the U.S. stock market. Traders are reading the contraction as a strong sign of a long-predicted U.S. recession, which means less money to go around for non-essentials like video games.Will less discretionary spending mean tougher times ahead for the games industry, or is huge growth last year indicative of a somewhat recession-proof sector? We'll see, but in the meantime we'd recommend stuffing your mattress with small bills and loading up on canned goods. You know, just in case.
Hitachi unsurprisingly looks to sell stake in CRT operations
Not even a month after Hitachi announced that it would be axing production and sales of RPTVs in North America, the firm has followed up by stating its intentions to sell its entire stake in a Chinese joint venture that produces CRTs. More specifically, the firm will offload its 25-percent stake in Shenzhen SEG Hitachi Color Display Devices to a local investor for 175 million yuan, or around $24 million. Reportedly, the company will be focusing the newly-freed resources on "growth areas such as plasmas," but that doesn't exactly jive with Hitachi's previous viewpoints on the generally shaky PDP market. Nevertheless, we can't say that we're shocked to hear of this exit, but so long as we're headed onwards and upwards, you won't find us tearing up over the loss.
