I'd note two interesting factoids relating to the film biz:
1) The note about selling assets. This is not just about Kodak restructuring and shedding bad debt, but about a partial liquidation and divestment. With the film demand curve still dropping, even accelerating, this unit is almost sure to go. The coating equipment gets less and less valuable every day. Creditors will not take shares in a restructured company with a depreciating asset like that.
2) Sony Studios and Warner Brothers are two of the largest unsecured creditors. They are also likely two of the largest consumers of Kodak film products and services through the motion picture side which drives the bulk of the demand. Kodak's film assets are most likely to be salvaged by the motion picture industry. This is where the money is. How these creditors are compensated will be an interesting side-story. I would not at all be surprised to see a consortium of motion picture people get together and bid on the coating and processing assets related to film.