Kodak Says Sale of Its Patents Could Fail

Eastman Kodak may abandon efforts to auction off its portfolio of digital imaging patents, the company said Friday. The 131-year-old photography pioneer said it could instead set up a new licensing company to help repay creditors in its bankruptcy case.

Kodak’s roughly 1,100 patents, which the company estimates are worth as much as $2.6 billion, has been central to its plan to repay creditors as it restructures its business in bankruptcy and shifts its focus from photography to commercial packaging and printing services.

However, published reports say Kodak received bids for the patents that were far lower than what it had hoped.