The very last curtain after the final curtain for Digital Railroad:
The creditor will have all information erased from the storage devices and then sell the equipment at auction. We will work, with the assistance of photographer associations to have the publishers pay the photographers directly. (Diablo)
We´ve asked Diablo to provide details of all outstanding invoices and contact info for the photographers and clients. A meeting is scheuled this week with the secured creditor. (SAA)
Newscom's managing director Bill Creighton told News Photographer magazine yesterday that Newscom dropped out after their review proved the idea to be too difficult and too costly. "We looked at what it would take to run it on a daily basis, and it was going to need a lot of hand-holding, more than we expected." (NPPA)
A source with knowledge of Digital Railroad´s finances said the company had burned through at least $20 million in investments and loans. Digital Railroad owed $1 million to a bank and more in unpaid bills. (PDN)
Several photo agencies that were with Digital Railroad have signed up with picturemaxx, a German company that provides hosting for stock libraries. Agencies making the switch to picturemaxx include Redux, eyevine, VII Photo, Noor, CandidatePhotos.com and others, according to Tom Tinervin. Virtual Picture Desk said it is helping migrate several Digital Railroad-powered stock agencies to IPN Stock or Photolibrary. (PDN again).
