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The Fishermans Hut | derekhansen

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.

Posted : 25 Feb 2009 4:18PM by ePHOTOzine

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Industry News

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 11 1.7k 1

25 Feb 2009 4:59PM

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Flippin eck, sounds desperate.

jk

TimothyDMorton 11 4

25 Feb 2009 5:46PM

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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 9 26

25 Feb 2009 8:28PM

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

wasper 12 533 1

25 Feb 2009 10:00PM

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

yadong110 9

26 Feb 2009 2:04PM

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It's a pity

peterjones Plus

16 4.7k 1

26 Feb 2009 6:00PM

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

spaceman 14 5.3k 3

26 Feb 2009 10:53PM

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

Bowline 11 28

27 Feb 2009 7:39AM

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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 on 27 Feb 2009 7:45AM

MikeA 13 1.3k

27 Feb 2009 9:23AM

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

Consulo 13 840 10

27 Feb 2009 3:49PM

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

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