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Kodak Files for Chapter 11, But the Party Goes On

Kodak Files for Chapter 11, But the Party Goes On

Very early on January 19 — the opening day of  the 2012 Sundance Film Festival — Kodak announced that it had filed for Chapter 11 bankruptcy. (Details are available at Kodaktransforms.com.) Nonetheless, Kodak still plans to hold its annual Sundance party next week.

Kodak’s bankruptcy announcement also came the day after the New York Times ran a Sundance curtain raiser, “Technology Helps Sundance Films Capture the Moment,” extolling the virtues of digital production in its ability to help filmmakers respond quickly to time-senstive issues.

Meanwhile, Kodak’s presence will still be strong at this year’s Sundance.  The 120-year-old company will present a filmmakers’ panel at Sundance’s New Frontier January 21 on the “advantages of shooting Super 16” that includes “Keep the Lights On” producer Lucas Joachin and director Ira Sachs and “Beasts of the Southern Wild” cinematographer Ben Richardson.
 At Sundance, Women in Film will present a Kodak product grant January 24 as part of their Women in Film/The Incentives Office Grant.

At Slamdance, Kodak will host a discussion January 23 “about the beauty, versatility and affordability of shooting film” that includes both Slamdance and Sundance filmmakers. Kodak will also present a product grant to the winner of the Slamdance Cinematography Award. The winner will receive 5,000 feet of Kodak motion picture film.

In a press release promoting Kodak’s festival appearances, Kodak Entertainment Imaging Division VP Graeme Parcher said, “Film is still a very affordable medium for a wide range of productions, and these panelists can speak to that first-hand. Nothing compares to film’s latitude, flexibility and resolution, and we want independent filmmakers to understand that they don’t have to make compromises to realize their vision. Our newest film stocks offer great options and pristine results for projects at all budget levels.”

Separately, Kodak said that it expects the company’s stock to be delisted by the New York Stock Exchange.



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