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Rovi Corporation has agreed to buy TiVo in a cash and stock deal worth roughly US$1.1 billion (€961 million).Rovi CEO Tom Carson will lead the combined firm, which will “adopt the iconic TiVo brand” as the new company name.Announcing the deal, Rovi said that the combining the two companies would provide them with complementary products, services, and intellectual property.Carson said that the TiVo deal “strengthens Rovi’s position as a global leader in media discovery, metadata, analytics, and IP licensing” with the arrangement coming at a time of “significant evolution” in the entertainment landscape.“The combined capabilities of TiVo and Rovi place us in a tremendous position to extend services across platforms and to a customer base that includes traditional, over-the-top and emerging players across the globe,” said Carson.“By working together, Rovi and TiVo will revolutionise how consumers experience media and entertainment and at the same time build value for our stockholders.”TiVo’s interim CEO and CFO Naveen Chopra described the deal as the “logical next step for TiVo” and said that the combined company will be a “more influential global player” that is “incredibly well positioned to redefine television”.“In joining forces with Rovi, our customers, employees and stockholders will benefit from being part of a more diversified industry leader with significantly greater market opportunities,” he said.The deal, which was first rumoured to be under discussion last month, will combine TiVo’s experience in traditional TV, OTT and on-demand UX and content discovery with Rovi’s strength in guides, personalisation, advertising, analytics and cloud services.The combined company is expected to make more than US$800 million in revenue this year after purchase accounting adjustments, and achieve at least US$100 million in annual savings – 65% of which will come in the first 12 months.The all-new TiVo will serve nearly 500 service providers across countries, adding Rovi’s current base of approximately 18 million households using Rovi guides to the more than 10 million TiVo-served households.The expanded company will also have a combined IP portfolio of more than 6,000 issued patents and pending applications.The firms said they expect to close the deal in the third quarter of this year after obtaining requisite clearances.
James MurdochDirect-to-consumer streaming is an “option” for 21st Century Fox in the US market, and the company has the expertise to launch such an offering, according to CEO James Murdoch.Speaking to analysts after Fox announced its latest quarterly figures. Murdoch said that Fox was focused primarily on developing its authenticated streaming service in partnership with pay TV providers for now.However, he said, it remains “an option for us in the future” to develop “independently priced access to that suite of apps”.Murdoch said that while Fox had not yet decided to go down that route, such an approach is “one that we feel we have the capability and the wherewithal and experience in terms of managing direct-to-consumer and subscriber businesses to tackle”.Murdoch said that Fox had successfully developed a direct-to-consumer OTT proposition in India with its Hotstar platform. “Whether or not there’s a future for us in, for example, the way that CBS has taken some steps in the US is a decision that we can take at a later date,” he said.Murdoch said that for now Fox was “very focused” on the authenticated partnership model, including developing services for “new digital MVPD partners” such as Sling Media, DirectTV Now, Hulu’s new platform and Google’s forthcoming service.In his opening remarks on the call, he said that Fox would launch a “major overhaul” of its streaming apps “within the next few months”.Murdoch’s comments came as 21st posted Q2 revenues of US$7.68 billion, up 4%, and operating income before depreciation and amortization of US$1.99 billion, up 15%.Addressing Fox’s planned acquisition of the 61% of Sky that it doesn’t already own, Murdoch said that the deal represented a “major step” in “a long process that started a number of years ago” to realign Fox “around the future of video”. He said that “the combination of strengths required to operate a high-volume content business and a vast international video platform business is precisely the combination of strengths that we’re developing”. Murdoch said that using the company’s core strength in content to build a platform that reflected the long-term trends of high-speed connectivity, proliferation of end-user display devices and the opportunity to access content in the cloud “presents one of the most promising opportunities for our company in decades”.Fox co-executive chairman Lachlan Murdoch said that the deal would “deliver more balanced revenue streams and geographic spread” and simplify the group’s “structure and operating model” as well as being “significantly accretive to our earnings per share and our free cash-flow”.
SDLP Councillor Brian Tierney has encouraged people to donate blood. This week the NI Blood Transfusion service will be in Derry’s Guildhall between 1:30-4:00 pm and 5:15-8:00 pm.Said Councillor Tierney: “This is a great opportunity for the community in Derry to donate blood and I would encourage as many people as possible to come along. COUNCILLOR BRIAN TIERNEYGuildhallNI BLOOD TRANSFUSION SERVICESDLPTierney backs blood donation drive in Derry “One donation of blood can save the lives of 3 people and with 115 new blood donors needed each week, it is vital that everyone plays their part. Councillor Tierney, who will be donating blood himself, added: “You never know how soon someone may need a blood donation; it could even be your own family member who is in urgent need of a donation.“The Derry public are known for their generosity and I hope they get behind this appeal.”Tierney backs blood donation drive in Derry was last modified: April 15th, 2019 by John2John2 Tags: ShareTweet