A new memo from Diablo Management (full text):
Digital Railroad has received a letter of intent (LOI) to purchase the assets of DRR, specifically its hardware and application software used to store and retrieve images with the desire to continue providing services to DRR members and customers with as little disruption as possible. [...] The acquiring company will have no right to sell or distribute these images without the owner´s prior approval.
From today´s official Photolibrary Group statement (or download the full PDF file here), with some some strong expressions ("altered documentation"):
Unjustified concerns have been caused by inaccurate and ill-founded reports in the media and elsewhere, drawing on unauthorized and misleading information circulated in November 2007. Photolibrary therefore needs to correct basic errors that have been published in various outlets.
Photolibrary has funded Indexstock in the amount of $3,736,152 since the date of acquisition. Of this amount the vast majority has been utilized by Indexstock to pay contributor royalties.
Continue reading "Photolibrary Group responds to Stock Artists Alliance and Media Reports" »
