I've been reading about this for the last couple days.
Annie Leibovitz takes shot at solvency
BY DOUG CAMILLI, THE GAZETTEFEBRUARY 26, 2009
Photographer-of-the-stars Annie Leibovitz, in deep financial trouble, has put her photos up as collateral for a loan of $15.5 million U.S. to pay off mortgages and other debts, reports the New York Times.
She got the money from Art Capital Group, a lender that specializes in loans against art works. Normally, I gather, their business is rich people hocking their old masters paintings and the like. What Annie put up as collateral was some N.Y. property she owns but also the copyright, negatives and contract rights of - get this - every photograph she has ever taken or will take in future.
http://www.montrealgazette.com/Entertainment/Annie+Leibovitz+takes+shot+solvency/1329887/story.html
personally i rather dump the mortgages then my life's work, but who knows, maybe she had no other choice.
BY DOUG CAMILLI, THE GAZETTEFEBRUARY 26, 2009
Photographer-of-the-stars Annie Leibovitz, in deep financial trouble, has put her photos up as collateral for a loan of $15.5 million U.S. to pay off mortgages and other debts, reports the New York Times.
She got the money from Art Capital Group, a lender that specializes in loans against art works. Normally, I gather, their business is rich people hocking their old masters paintings and the like. What Annie put up as collateral was some N.Y. property she owns but also the copyright, negatives and contract rights of - get this - every photograph she has ever taken or will take in future.
http://www.montrealgazette.com/Entertainment/Annie+Leibovitz+takes+shot+solvency/1329887/story.html
personally i rather dump the mortgages then my life's work, but who knows, maybe she had no other choice.