Bubbling Europe

The Gamma/ Eyedea sinking ship saga continues : 4 companies/ projects have  filed to be considered for the reprisal of the almost defunct Company. French Number one photo agency, ABACA Press, Verdoso Media, Frank Ullman and a pair of ex bosses of Gamma. No Getty ( for once) , No Corbis.

The buying price ? A symbolic 100,000 to 150,00 Euros. Hachette Filipacchi Photo, ex owner of this group of photo agencies, had sold it to its current owners for 600,000 Euros. Not much of a profit here, if you also consider the money invested since, and lost. The main role of the court now is to figure out which of this project is the most viable. Their main focus is to see how many jobs can be saved. Out of the 60 + currently on staff, not more than 30 are expected to stay.

The good news ? There seem to be some interest by French companies to save the group of images and bring it, finally, into the 21st century. Most might be thinking that this move will get them the good favors of the French Government who will them jump in and  pour some welcome cash, or incentives. However, like everything in France, it is going to take a while for the decision to be made.

On a similar note, Retna UK, not to be confused with Retna USA, has sold, again. Now, it is to Photoshot, a agency eating company that seems to buy anything and everything hanging low from the tree. Wonder why they didn’t not bid for Eyedea/Gamma.

It’s Friday, don’t forget to look at images today…

This entry was posted on March 5, 2010 at 7:18 am and is filed under celebrity, magazine, photojournalism, transaction, law, france, news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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