By Michael Ventura
DNAinfo Senior Editor
MANHATTAN — Famed photographer Annie Leibovitz has reached a deal with a private investment firm to help her manage her debt and ultimately pay it off, the Associated Press reported.
Under the deal with Colony Capital LLC, Leibovitz, who was in danger of losing her portfolio of celebrity images to cover millions in debt, will retain the rights to her photos, according to the Associated Press.
The investment firm will become Liebowitz's sole creditor, the AP said, and will market her famous images.
Colony Capital is also helping the Greenwich Village resident pay back a $24 million loan to Art Capital Group, the AP reported.
New York magazine last year published a story detailing how Leibovitz, an iconic photographer, managed to fall so far into debt. She was also in danger of losing her several homes, including a penthouse in Chelsea and a townhouse in the Village.
