Leibovitz pawns copyright to pay debts

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Annie Leibovitz gives up rights to her work - Renowned photographer Annie Leibovitz has pawned the rights to her work to help pay off her debts.

Posted: 25th February 2009

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World famous photographer Annie Leibovitz has given away the rights to her negatives and contract rights so she could receive a loan to pay off her debts.

According to the New York Times the photographer borrowed $15.5m (£10.8m) from Art Capital Group in New York. The paper says the loan is to pay off mortgages as well as other financial worries.

Reports suggest the Art Capital Group expect to make around $120m (£83.3m) in art-related loans this year.

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Comments

jken

25 Feb 2009 - 4:59 PM

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Flippin eck, sounds desperate.

jk

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25 Feb 2009 - 5:46 PM

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TimothyDMorton

25 Feb 2009 - 5:46 PM

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Pity, and wonder how many of these loans is because AMERICA as no medical coverage for it's residences.

Duncan_Allan

25 Feb 2009 - 8:28 PM

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You would have thought she'd have had better financial advice behind her.

wasper (e2 Member)

25 Feb 2009 - 10:00 PM

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15m burrowed what kind of budget disaster she is having?

yadong110

26 Feb 2009 - 2:04 PM

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It's a pity

peterjones (e2 Member)

26 Feb 2009 - 6:00 PM

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If AL is in trouble what hope for the rest of us?

spaceman

26 Feb 2009 - 10:53 PM

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How does a photographer end up with £10m of debt?

Bowline

27 Feb 2009 - 7:39 AM

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She must be desperate, but if she is able to buy back the rights, from 'Uncle', then maybe it's a temporary set-back. She hopes... She must have high hopes of turning herself around though.
AJ

Last Modified By Bowline at 27 Feb 2009 - 7:45 AM