Michael Lee responds to Kodak’s new deal with studios
It’s particularly interesting that in light of all the numerous advances in digital filmmaking technology that Kodak has secured the backing of six Hollywood studios, While the growing wave of producers drift away from film (mainly due to the financial constraints of shooting on film) it’s somewhat gratifying to see studios such as Walt Disney Co., 20th Century Fox,Warner Bros. Entertainment Inc., Paramount Pictures Corp. Sony pictures and NBC Universal Inc. affirm their support in a legitimate deal.
This must be a more than adequate relief for Kodak, which continues to struggle through bankruptcy. The company filed it’s Plan for Reorganization and Disclosure Statement in late April with the U.S bankruptcy Court In New York. The courts are expected to begin a hearing in mid June which will ascertain the validity of the companies proposal and most certainly dictate it’s future.
The support of studios to Kodak film illustrates that at least some producers feel the format isn’t dead and bears a certain opulence distinct from any Digital equivalents. The future of Kodak is somewhat less disparaging for the present but far from secure.
Read more: http://motion.kodak.com/