WXXI Local Stories
Mon October 17, 2011
Kodak Strikes Licensing Deal With IMAX
By Zack Seward
Rochester, NY – Kodak technology is coming to an IMAX theater near you. As the WXXI Innovation Trail's Zack Seward reports, the licensing deal will bring crisper images to the big screen -- and an infusion of cash to Eastman Kodak.
Kodak announced it's selling exclusive rights to more than 50 patents associated with its laser projection technology.
The deal with IMAX is reportedly worth tens of millions of dollars.
Les Moore is the head of Kodak's digital cinema division. He says the licensing deal will bring cutting edge technology to IMAX theatergoers.
"Certainly laser technology is a game changer. It has enabled high brightness, high contrast ratio, [and] a wider color palette to be displayed," said Moore. "It's a real change in the theatrical experience going forward."
Moore says the IMAX deal is a "bright spot" in an otherwise dismal stretch of bad news for the photo giant.
The deal comes after the company's stock price was rocked by bankruptcy rumors last month.
Kodak officials say the IMAX deal is separate from ongoing plans to sell off a multibillion-dollar portfolio of tech patents.