Breaking: Bill Gates sells his picture library to Chinamain
The Microsoft magnate revolutionised the image world in the 1990s by agglomerating a vast resource of archives and photographers, named Corbis, and opening a price war with Getty Images.
Now, both giants have fought their way to the bitter bottom and can’t make their profit targets.
Today, Corbis was sold to Visual China Group, based in Changzhou.
Here’s the detail, and the tortured rationale. One way or other, it’s bad for photographers and artists.