- Buyers of a21 subsidiaries to be decided Friday:
A21 Inc. should be able to finalize agreements to sell its two major subsidiaries on Friday. But the identity of the buyers is still up in the air.
Masterfile agreed to buy SuperStock’s assets for $1.5 million at the time of the bankruptcy filing. But since then, RGB Ventures, a new company formed by three existing photography-related companies, has offered a bid of $1.75 million, said Davis, an attorney representing a21 in its Chapter 11 bankruptcy reorganization.
Onstream Media had asked the court to extend the deadline for SuperStock and said in court filings that it was negotiating to buy a21 before the bankruptcy filing. But Onstream said Wednesday it has decided to withdraw its bid.