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Digital Railroad liquidator indicates asset purchase, service continuation possible  
Monday, November 3, 2008 | by Rob Galbraith
A notice on the website of Digital Railroad's liquidator indicates the company has "received a letter of intent (LOI) to purchase the assets of DRR...with the desire to continue providing services to DRR members and customers with as little disruption as possible."

The text of the notice is below. This notice first began circulating among photographers via email and in forums late last week, and was added to Diablo Management's Digital Railroad information page sometime over the weekend or today. More information about Digital Railroad's troubles are in a recent Seattle Post-Intelligencer story.

To Digital Railroad Members and Customers:

Digital Railroad (DRR) has been attempting to keep its servers up and running for as long as possible. However, given DRR’s current cash position, it can no longer keep these servers operational. Therefore, as early as midnight EST, October 31, 2008, the DRR website will be closed and the images located on the DRR servers will be inaccessible. DRR apologizes for difficulties and inconvenience that this creates, however, without additional capital investment, DRR has no other recourse.

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

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.

Please check the Diablo Management website www.diablomanagement.com regularly for updates.


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