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Leibovitz pawns copyright to pay debts

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

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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


25 Feb 2009 4:59PM
Flippin eck, sounds desperate.

jk

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25 Feb 2009 5:46PM
Pity, and wonder how many of these loans is because AMERICA as no medical coverage for it's residences.
25 Feb 2009 8:28PM
You would have thought she'd have had better financial advice behind her.
wasper e2
8 532 1 Ireland
25 Feb 2009 10:00PM
15m burrowed what kind of budget disaster she is having?
26 Feb 2009 2:04PM
It's a pity
peterjones e2
12 3.9k 1 United Kingdom
26 Feb 2009 6:00PM
If AL is in trouble what hope for the rest of us?
spaceman 10 5.2k 3 Wales
26 Feb 2009 10:53PM
How does a photographer end up with 10m of debt?
Bowline 7 28 England
27 Feb 2009 7:39AM
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
MikeA 9 1.2k England
27 Feb 2009 9:23AM
No sympathy for anyone in a position to borrow 15M whatever the circumstance.
Consulo 10 763 10 Scotland
27 Feb 2009 3:49PM
I wouldn't have thought Leibovitz would be in such a position, considering who she shoots for.

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