This actually seems not be be new information, just one stockbroker's spin on things. Kodak released its quarterly and annual results about a week ago. It reported that film had posted an operational loss ("slipped into the red," as per the original post) for the fourth quarter of 2010 due to declining sales and increasing costs of raw materials. Kodak already indicated it would raise prices and perhaps cut some film products because of this. There is a thread about this on APUG. Today's story arises because Kodak had its annual meeting for shareholders today in NYC, I think.
The stockbroker referenced in the original post is probably George Conboy, and his words are here: http://www.whec.com/news/stories/s1956065.shtml
I didn't see anything new mentioned about film in the news stories that I skimmed today. In fact, Perez seems to go out of his way never to talk about film. And with respect, this is one stockbroker's opinion. Even if he's 100 percent right, he talks about Kodak selling the film division. Which means someone else would buy it, presumably to operate it. Kodak's film business would "go away" only in the sense that Kodak would no longer own it.
By the way, as I read the release about the 2010 financial results, the film business posted an operating profit for 2010 as a whole. Revenues and profits are declining, however. Kodak has been stating it would get out of the film business as long as Perez has been in charge. If that date arrives in 2011 or 2012, who knows, it might be all to the good.