Television Listings

Photographer Leibovitz reaches deal with lender

NEW YORK (Reuters) - Celebrity photographer Annie Leibovitz reached a deal on Friday with the art finance company behind her $24 million loan, allowing her to buy back control of her photographs, which had been put up as collateral.

In a joint statement with Art Capital Group, which made the loan against the value of Leibovitz's entire collection and her two properties, Leibovitz said she had bought back control of her assets. She had taken the loan to pay off debts.

As part of the agreement, Art Capital agreed to drop a breach of contract lawsuit filed against Leibovitz in July and extend the deadline for payment. The loan was originally scheduled to be paid back on Tuesday.

"In these challenging times I am appreciative to Art Capital for all they have done to resolve this matter and for their cooperation and continued support," Leibovitz said in a statement.

"I also want to thank my family, friends and colleagues for being there for me and look forward to concentrating on my work," the photographer said.

Leibovitz, 59, who has photographed everyone from Michelle Obama to Britain's Queen Elizabeth and a very pregnant Demi Moore in the nude, approached Art Capital in June 2008 and later secured from the group a $24 million loan.

She is perhaps best known for a portrait of a naked John Lennon and a clothed Yoko Ono taken on the same day the former Beatle was shot dead.

(Reporting by Edith Honan; Editing by Daniel Trotta and Todd Eastham)

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Surgical waits average five months in B.C.
 
Fire at Surrey home claims cat
 
Final touches for new South Surrey rail bridge
LETTERS: Elections aftermath
 
Flu vaccine less effective against mutant strain
 
Richmond couple pitch touchscreen innovation to Dragons’ Den
Robbed Good Samaritan gets her gear replaced by Langley store
 
Updated: Burned body found in Langley
 
Christmas in Williams Park cancelled

Community Events, November 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Nov 27 edition online now. Browse the archives.