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A Buyer for DRR? Diablo Receives Letter of Intent for Purchase of Digital Railroad
Staff Report



A memo regarding an unidentified party's intent to purchase Digital Railroad was announced by the Diablo company, the group handling the closure, on its website. It reads as follows:

"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 Intellectual Property (IP) stored on these servers and owned by members would in any case be preserved.

After the completion of an asset purchase agreement, the acquiring company will contact owners of the images to determine their disposition. The acquiring company will have no right to sell or distribute these images without the owner’s prior approval.

The company that has submitted the Letter of Intent is a twenty-year fixture in the industry with ongoing close relationships with the preeminent players in the worldwide information business. It owns a multi-agency digital media marketplace composing more than twenty-five million images, news stories, and video clips which it licenses to five thousand customers who purchase content on a daily basis for insertion into the world's most prominent newspapers, magazines, web sites, and broadcast services. "

Because of DRR's current cash position, it could no longer keep servers operational and was forced to shutter its services on October 31, 2008.

At that time, the DRR website was closed and the images located on the DRR servers were inaccessible (see previous imaginginfo stories).

The images are preserved on the existing hardware in anticipation that at a later date they can be retrieved by their owners.

Check the Diablo Management website at www.diablomanagement.com and imaginginfo.com regularly for updates.


   







PTN Dailes HERE