Eastman Kodak Co. said Thursday it plans to sell its online photo service business to online photo publishing company Shutterfly Inc. for $23.8 million.
Eastman Kodak filed for Chapter 11 bankruptcy protection in January and said it is narrowing its focus to its core printer businesses. A bankruptcy court will review the proposed sale of Kodak Gallery.
The company said Kodak Gallery has more than 75 million users. Kodak customers who don't want their photos transferred to Shutterfly can opt out and get their photos through free downloads or buying DVDs from Kodak Gallery.
Shutterfly stock, which fell 45 cents to close Thursday at $26.91, climbed $3.79, or 14.1 percent, to $30.70 in aftermarket trading following the announcement.
Good News: Paris Attack Suspect Might Be In Syria, U.S. Embassy In Kabul Warns Of 'Imminent Attack' | Matt Vespa
Building a Pocket Blowout Kit - Bearing Arms - Blowout Kit, Emergency Medical Preparedness, IFAK
The Most Surprising Thing About the Colorado Springs Shooting | RedState
You won't believe what Pres. Obama just said in Paris on 'mass shootings'
Peter Morici - 2015 Paris Climate Conference: Another Bad Deal for America
Importing Terrorism and Other American Values | Human Events
Obama in Paris: Mass shootings just don’t happen outside the United States
A Resurgence of Intolerance