Eastman Kodak extended its patent auction yesterday saying that it would not announce a winner as planned because it was still in discussions with bidders, Reuters reported yesterday. Kodak, which has lost more than $600 million so far this year, began an auction of 1,100 digital patents last Wednesday. It had been scheduled to designate a winner on Monday ahead of a Manhattan Federal Bankruptcy court hearing on Aug. 20. The company would use the money from the sale to pay back investors as it has borrowed nearly $700 million in bankruptcy financing.
