Rightscorp Signs Sony as Client, Continues to Combat Piracy

Rightscorp, a company that goes after people who illegally download songs, has just signed Sony/ATV Music Publishing as a client. The signing is a coup for the company, which despite having signed a few big clients, has been struggling on the verge of bankruptcy. In addition to Sony/ATV, Rightscorp also counts BMG and Warner Bros. among its clients. The company process is to scan the Internet for illegal downloads, using its proprietary algorithm to gather IP addresses, and then threaten those users with legal action. Continue reading Rightscorp Signs Sony as Client, Continues to Combat Piracy

Broadcasters Offered Final Approval of Auction of Aereo Assets

Aereo, the controversial startup that captured over-the-air cable TV without paying licensing fees and allowed subscribers to watch the content on multiple devices, filed for Chapter 11 bankruptcy in November. A bankruptcy court in New York has approved the dismantling of the company, with its assets to be auctioned to the highest bidder. The auction is scheduled for February 24, and the broadcasters that initially complained about Aereo’s business model will have two weeks to decide whether they approve of any sales. Continue reading Broadcasters Offered Final Approval of Auction of Aereo Assets

Aereo Files for Bankruptcy Protection in Wake of Legal Battles

Aereo’s plan to upend the television industry with an online streaming service has come to an end. Chet Kanojia, Aereo’s chief executive, explained in a blog post Friday that legal and regulatory challenges have become too difficult for the Barry Diller-backed company. As a result, five months after the Supreme Court ruled that the startup had violated copyright laws by capturing broadcast TV via small antennas and retransmitting to subscribers, Aereo has filed for bankruptcy protection. Continue reading Aereo Files for Bankruptcy Protection in Wake of Legal Battles

Dish Network Executive to Take Over LightSquared Wireless

LightSquared, a wireless company that filed for bankruptcy in 2012, proposed a new restructuring plan that would give Dish Network Chairman Charlie Ergen 60 percent of the new equity in addition to $1 billion in junior debt. J.P. Morgan Chase, a LightSquared lender, would come away with 31.9 percent of the equity and a seat on the board of directors if the investment bank provides $189 million in funding. The restructuring plan is intended to raise between $750 million and $1 billion. Continue reading Dish Network Executive to Take Over LightSquared Wireless

Kodak Exec Unveils Plans to Keep Film Product in Hollywood

Kodak emerged from Chapter 11 bankruptcy this week and has a plan to keep its product in Hollywood, despite a market that favors digital imaging. While more than 75 percent of the world’s cinema screens currently support digital projection, Kodak has commitments to provide film to the major studios for production needs and distribution, deals that run through 2014 or 2015 (depending on the studio). Filmmakers such as J.J. Abrams and Christopher Nolan are using celluloid for their movie projects. Continue reading Kodak Exec Unveils Plans to Keep Film Product in Hollywood

Kodak to Sell Scanning Business to Brother for $210 Million

Eastman Kodak announced yesterday that it has entered into an agreement with Brother Industries for the proposed sale of its Document Imaging business. The deal includes a cash purchase price of approximately $210 million and about $67 million in deferred service revenue liability. If a better deal is not offered by another company, Brother will likely take control of Kodak’s scanning hardware and software products. Continue reading Kodak to Sell Scanning Business to Brother for $210 Million

Another Visual Effects Company Bankrupt: Time for Change?

Rhythm & Hues Studios, which served as the lead visual effects producer on the dazzling “Life of Pi” film, filed for Chapter 11 bankruptcy on February 13 — just days after the film won four prizes at the annual Visual Effects Society Awards and just weeks before it would win the Academy Award for best visual effects. Additionally, the 26-year-old company has laid off 254 of its 718 employees in the LA area. Continue reading Another Visual Effects Company Bankrupt: Time for Change?

Atari Files for Bankruptcy to Separate from Parent Company

New York-based interactive entertainment company Atari Inc. filed for Chapter 11 bankruptcy protection on Monday, announcing plans to sell all its assets. The videogame pioneer, with a portfolio of more than 200 games, has filed in an effort to separate from its French parent Atari SA of Paris (formerly Infogrames SA) and secure independent capital. Continue reading Atari Files for Bankruptcy to Separate from Parent Company

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