Rovi Corp. Set To Acquire TiVo In $1.1B Cash & Stock Deal
Entertainment tech company Rovi Corp. said this morning that it has completed a deal to acquire DVR maker TiVo for $1.1 billion in cash and stock. The new $3 billion aggregate, which will take the TiVo name, is expected to generate “saving synergies” of $100 million in the first year, according to an announcement.
"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… Read
Peter Bart: Tech Titans Aim To Disrupt Ad Biz Right Before Our Eyes
The “hot” word of the moment is “disruptive.” Every new technology, or business plan, seems aimed at disrupting the orderly way we presently do or see things. As if the elections weren't disruptive enough.
In that context, I have been attending demonstrations of intriguingly disruptive technologies that deliver “virtual reality” and “mixed reality.” This week I also got a glimpse of a new Videri system designed to alter the reality of visiting a Starbucks or a movie… Read
Facebook Beats Q1 Earnings Estimates And Proposes New Stock
Facebook is up nearly 7% in post market trading after it reported Q1 results that topped analyst forecasts — and proposed a new class of non-voting stock that will enable CEO Mark Zuckerberg to donate to charities without giving up control.
The social media company generated $1.51 billion in net income, up nearly 196% from last year’s Q1, on revenues of $5.38 billion, up 51.9%. Wall Street expected revenues to hit $5.26 billion. Adjusted earnings at 77 cents a share was… Read
Yahoo Ends Fight With Starboard Value By Giving It 4 Board Seats
Updated with details from SEC filing: Yahoo struck a truce today with activist investor Starboard Value, one of its most vigorous critics, by agreeing to add four of its candidates to the board. As a result of the deal, Starboard withdrew its effort to replace the entire board.
Starboard picked its CEO Jeffrey Smith as well as former Tribune CEO Eddy Hartenstein, former Deutsche Bank Securities M&A specialist Tor Braham, and Tessera Technologies chairman Richard Hill… Read
Apple Revenue Down For First Time Since 2003 On iPhone Sales Decline
UPDATE with additional details from earnings call: Apple today reported second-quarter revenue of $50.6 billion and earnings-per-share of $1.90 for the period ending March 26. Both numbers come below Wall Street estimates for the tech giant, thanks to a slowdown in iPhone sales that are the company’s core driver. It also offered Q3 guidance on revenue that is even lower, between $41B-$43B. The Q2 number marked Apple’s first quarterly revenue decline since 2003.
In Q2… Read
Turner And Criterion Team To Launch Classic Movie SVOD Service
Time Warner’s Turner unit is joining corporate cousin HBO in the direct-to-consumer subscription video on demand business — and in a way that should please fans of classic films — as well as those of the Beatles.
Turner’s launching an ad-free streaming site, FilmStruck, this fall featuring what it calls “an eclectic mix of contemporary and classic art house, indie, foreign and cult films.” Turner Classic Movies will run the operation, which will be the exclusive streaming… Read
Fullscreen Prepares SVOD Launch With Bret Easton Ellis-Directed Series
Tomorrow’s the launch day for Fullscreen’s global, Netflix-like, ad-free subscription video on demand service for teens and young adults. And this morning it fleshed out some of the details, including a plan to distribute a Bret Easton Ellis-directed thriller series called The Deleted as well as a daily sketch show, Party In The Back, with Twaimz, Josh Leyva, Rachel Scanlon, and Brandon Armstrong,
The company owned by Otter Media — Peter Chernin’s joint venture with AT&T… Read
Comcast Introduces Plan To Let TV Subs Watch Without Its Set-Top Box
Updated with FCC comment: Comcast is relaxing its grip on the set-top box, just as it and other cable operators line up to oppose an FCC effort to help manufacturers produce competitive boxes.
The No. 1 cable company today unveiled its Xfinity TV Partner Program, which will enable Comcast’s TV customers to access their programming without a company-supplied box. It also announced deals to kick off the program sometime this year for people who own Samsung Smart TV sets and… Read
Sony’s Crackle Introduces “First Ever” VR Programming And Ad Sales Initiatives
EXCLUSIVE: Virtual Reality is an interesting feature for content producers. But can it be a lucrative business for ad-supported media? Sony Pictures Television believes it can: Its Crackle streaming service will unveil at its upfront presentation today what it calls a “first ever” multipart plan for an ad-supported VOD platform to bring sponsors into the 360-degree picture.
“We contemplated a strategy with the advertiser in mind,” Crackle GM Eric Berger tells me. It was a… Read
Yahoo CEO Declines To Discuss Sale Plans To Protect “Integrity” Of the Process
Yahoo CEO Marissa Mayer and CFO Ken Goldman tiptoed around everyone’s main concern about the company — its effort to restructure or sell itself — today in a quarterly earnings call with analysts. The effort has been hampered by “external noise” and “misconceptions,” Mayer says. But she declined to set things straight “in order to protect the integrity of the process.”
Mayer does offer, though, that she, Goldman and the management team have spent the last two months “in… Read
Yahoo Reports Q1 Loss That’s In Line With Wall Street Expectations
The big news at Yahoo involves its plan to sell itself — in whole or in parts. But while we wait for that, we have the company’s Q1 earnings which at first glance look to be largely in line with Wall Street expectations, though nothing to cheer about.
The Internet company generated a net loss of $99.2 million vs a net gain of $21.2 million in the period last year, on revenues of $1.09 billion, down 11.3%. The top line slightly beat expectations for $1.08 billion.
Amazon Video To Offer Subscriptions To NBCU Comedy Service Seeso
Here’s the latest sign of Amazon’s eagerness to make subscription streaming services a big part of its retail offerings. It just agreed to offer Amazon Prime customers the opportunity to use their accounts to buy Seeso, NBCUniversal Digital Enterprises’ $3.99 a month ad-free comedy service.
The video provider will be available via Amazon “this Spring,” the companies say. Subscribers will be able to access Seeso’s library online and via the Amazon Video app for TVs… Read