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Leibovitz pawns copyright to pay debts

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Category: Industry News

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:
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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
jken  71672 forum posts United Kingdom1 Constructive Critique Points
25 Feb 2009 - 4:59 PM

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

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

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

wasper
wasper e2 Member 8532 forum postswasper vcard Ireland1 Constructive Critique Points
25 Feb 2009 - 10:00 PM

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

yadong110
yadong110  5 China
26 Feb 2009 - 2:04 PM

It's a pity

peterjones
peterjones e2 Member 123785 forum postspeterjones vcard United Kingdom1 Constructive Critique Points
26 Feb 2009 - 6:00 PM

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

spaceman
spaceman  105159 forum posts Wales3 Constructive Critique Points
26 Feb 2009 - 10:53 PM

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

Bowline
Bowline  728 forum posts England
27 Feb 2009 - 7:39 AM

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
MikeA
MikeA  91134 forum posts England
27 Feb 2009 - 9:23 AM

No sympathy for anyone in a position to borrow 15M whatever the circumstance.

Consulo
Consulo  9762 forum posts Scotland9 Constructive Critique Points
27 Feb 2009 - 3:49 PM

I wouldn't have thought Leibovitz would be in such a position, considering who she shoots for.

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