Hollywood studios get their Kodak moment

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SHAFAQNA- Kodak will continue to provide celluloid to 20th Century Fox, the Walt Disney Co., Warner Bros., NBC Universal, Paramount and Sony, though the announcement revealed neither how much film would provided nor for how long.

J.J. Abrams, Christopher Nolan and Quentin Tarantino spoke, and Hollywood listened. After intense lobbying by these filmmakers and others, the six major studios have inked to keep Kodakand#39;s motion-picture film manufacturing in business. Under the deal, the Rochester, N.Y., company will continue to provide celluloid including camera negative, intermediate stock for post-production, and archival and print film to 20th Century Fox, the Walt Disney Co., Warner Bros., NBC Universal, Paramount and Sony, though this weekand#39;s announcement revealed neither how much film would provided nor for how long.

and#34;Film has long been and will remain a vital part of our culture,and#34; said Eastman Kodak CEO Jeff Clarke. and#34;With the support of the studios, we will continue to provide motion picture film, with its unparalleled richness and unique textures, to enable filmmakers to tell their stories and demonstrate their art.and#34;

The move comes six months after Kodak (NYSE: KODK) announced that it was finalizing agreements with the studios to keep manufacturing film. The companyand#39;s motion-picture film sales have plunged 96 percent over the past 10 years with the widespread adoption of digital cinematography and projection. Kodakand#39;s film-manufacturing business didnand#39;t turn a profit for the first time in 2014, but with these new deals, the division could break even this year and, along with new business from the touchscreen market, turn a profit again in 2016.

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