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Blackstone to Buy Nearly Half of Leica

19 March 2012
Published in : Industry News

United States-based private equity firm The Blackstone Group will buy 44 percent of Leica Camera. The deal, which will be completed by...



Sony, Canon, Nikon Facilities Recovering from Thai Floods

16 March 2012
Published in : Industry News

Monsoon rain and flooding last October in Thailand caused significant losses for Nikon, Canon and Sony manufacturing plants in the region. According to the Bangkok Post, the industrial park where Sony resides suffered $1 million in damages. Floodwaters there took nearly a month to recede. Sony's plant, which produces CCS and...



Two Journalists Killed in Syria

29 February 2012
Published in : Industry News

While stationed at a media center in Homs, Syria, two award-winning journalists — American war correspondent Marie Colvin, 55, and French photojournalist Rémi Ochlik, 28 — were killed on Feb. 22 in a Syrian army rocket attack during the recent uprising against the country's president, Bashar al-Assad.

Another journalist, British photographer Paul Conroy, was seriously injured in the attack and was smuggled out of Homs a week later by...



Citizen Photojournalism May Change Future for Police

27 February 2012
Published in : Industry News

The surge of "Occupy" protests at the end of 2011 and the increased availability of handheld recording devices have led to a rise in citizen photojournalism. In the struggle to balance police rights and personal rights, this phenomenon could have some serious repercussions on law enforcement.

For one, police must now be aware that amateur photographers may be keeping watch on them, as an officer in Oakland, Calif., learned this past winter when he...



Kodak May Opt Out of Oscars Venue

23 February 2012
Published in : Industry News

This weekend's Oscar Night ceremony might retain its annual residence at the Kodak Theatre in coming years, but the theater might not retain its name.

Ever since the Eastman Kodak Co. announced that it was filing for Chapter 11 bankruptcy protection in January, the photo company has been...



CNN Fires Photographers, Will Rely on Amateurs

23 February 2012
Published in : Industry News

In another bow to the rapid rise in usage of the camera phone, CNN laid off more than 50 people from its news staff at the end of 2011, including nearly a dozen photojournalists, according to a report from Reuters.

CNN senior vice president Jack Womack wrote in a company memo that it was cheaper to rely on...



Kodak Ends Digital Camera Line

21 February 2012
Published in : Industry News

In its latest wave of financial amputations, the Eastman Kodak Co. has announced plans to stop making digital cameras, pocket video cameras and digital picture frames in the first half of 2012.

Since filing for Chapter 11 bankruptcy protection earlier this year, Kodak has said there would be...



Olympus’ Financial Woes Continue

15 February 2012
Published in : Industry News

After admitting that the company had used $1.7 billion in payments to cover up losses on investments, Olympus' Japanese stock fell 49 percent in two days in January. This latest drop now brings the company's total stock value loss to 70 percent since October, when Olympus fired its British CEO and president, Michael Woodford.

An outside committee appointed by Olympus released the information about the payouts and also found that...