Hollywood studios strike deal to keep Kodak movie film in production
A group of big name Hollywood directors has nudged studio executives into talks with Kodak, negotiating a deal that would keep the company's movie film in production. With support from the likes of Quentin Tarantino, Christopher Nolan, and J.J. Abrams, the deal would see studios commit to buying a certain amount of film from Kodak for the next few years.
Fujifilm stepped out of the movie film production business last year, leaving Kodak as the only remaining producer. It's no surprise that Kodak's film sales have fallen dramatically since 2006; the Wall Street Journal reports that Kodak sold 12.4 billion feet of film in 2006 as compared to an estimated 449 million feet this year. Closing the Rochester, N.Y. plant responsible for film manufacturing had been under consideration, but the negotiations (currently being finalized) will guarantee that the plant stays open for the time being.