New Owner Sale of TV Guide for 1 Needs to be Taken

first_imgIt came as startling news to many when the financial terms of TV Guide’s sale were revealed, showing that California-based investment firm OpenGate Capital paid $1—less than the cover price of one single issue—to purchase the print brand from owner Macrovision. On top of that, Macrovision said it would lend OpenGate up to $9.5 million at a surprisingly low 3 percent interest rate.Is this like paying the garbage man to take your trash away? It seems crazy that Macrovision, after its acquisition of Gemstar-TV Guide for $2.8 billion, would cough up nearly $10 million in loans, to an investment firm no less, to get the magazine off its books. There again, in this rollercoaster of an economic environment, anything is possible.According to OpenGate founder and managing partner Andrew Nikou, terms of the sale need to be “taken into perspective.” Here is his statement regarding the acquisition terms, via a TV Guide spokesperson: “Macrovision’s recent disclosure of the terms of the sale of TV Guide need to be taken into perspective, given the magazine’s history and unprecedented relaunch in 2005.TV Guide is a company with an exceptionally strong foundation, built around a subscriber base of over 3 million, a weekly readership in excess of 21 million, a powerful brand that commands trust and loyalty, and a world class organization able to produce a leading entertainment magazine with stunning photography and unique features-driven editorial content.However, the magazine’s reinvention from a listings guide to a contemporary television entertainment magazine has been not only highly promising and successful to date, but has also been a very costly undertaking. With losses over $20 million in 2007 and further losses expected in 2008, all of this combined with significant deferred subscription and other operational liabilities, OpenGate is stepping in with the commitment to successfully complete the magazine’s turn-around, which targets restored profitability by the end of 2009, and to re-establishing TV Guide as the premier television entertainment magazine in the country.This commitment will enhance the value of this unique franchise and is a tribute to the underlying strength and potential of the brand that has so far demonstrated its ability to withstand the test of time.”last_img read more

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Promising Developments at Former New Jersey Supply Depot

first_img Dan Cohen AUTHOR The Lincoln Equities Group plans to turn an unused, 90-acre waterfront parcel at the former Military Ocean Terminal Bayonne, N.J., into 1.6 million square feet of “next generation” industrial warehouse space to house e-commerce and logistics companies importing goods through the Port of New York and New Jersey, officials announced Thursday. The developer is acquiring the site from Highstar Capital for a project which is expected to generate 2,700 jobs, reports the Jersey Journal. … The former Army facility, a man-made peninsula jutting into New York Harbor, has seen little development until recently. Last week, Bayonne officials said they had reached an agreement with the Port Authority of New York and New Jersey to operate a commuter ferry to Manhattan, according to the Hudson Reporter.Jersey Journal photo by Reena Rose Sibayanlast_img read more

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Microsoft Sony partnership What does it mean for consumers

first_imgIBTimes VideoRelated VideosMore videos Play VideoPauseMute0:00/0:50Loaded: 0%0:00Progress: 0%Stream TypeLIVE-0:50?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading … In an unexpected turn of events, Microsoft and Sony announced on Thursday that they will be working collaboratively for the development of cloud services and more. The two tech giants have come together after a gruelling 10-year old rivalry to develop the future. This not only marks the beginning of an unexpected (but secretly wished for) venture but also proves that when needed, even fierce rivals are willing to come together and collaborate for a better tomorrow.The partnershipAs per their agreement, “the two companies will explore joint development of future cloud solutions in Microsoft Azure to support their respective games and content-streaming services.” Thus, it is expected that Microsoft Azure will play a key role in the partnership.Kenichiro Yoshida, the president and CEO of Sony said, “For many years, Microsoft has been a key business partner for us, though of course, the two companies have also been competing in some areas. I believe that our joint development of future cloud solutions will contribute greatly to the advancement of interactive content.”He also mentioned the collaboration of the two companies in the areas of semiconductors and AI, hopeful that a new value for society will be created by “leveraging each company’s cutting-edge technology in a mutually complementary way.” This announcement comes barely a month away from the world’s biggest gaming conference, E3. Kenichiro Yoshida, President and CEO, Sony Corporation (left), and Satya Nadella, CEO, MicrosoftMicrosoftOf course, here rises the question of the level of advancement the new alliance can bring into the world. We have seen some spectacular technology being developed by both companies over the years. Microsoft has been developing innovative consumer-level products for the world, including the mixed-reality-based HoloLens.Sony gave us the PlayStation VR, which enabled users to experience a whole new level of immersion. Their upcoming console is also touted to have top-of-the-line specs with an SSD for cutting loading times, ray-tracing abilities and 3D audio support.Microsoft did not get daunted by these announcements, promising that the upcoming Xbox will be more powerful than Sony’s console. This spat between the giants is another reason to think about possible ulterior motives behind this partnership.What does this mean for consumers?It is tempting to think about the future of this partnership: Has the age-old rivalry really ended? Will we be able to see cross-platform gaming across all titles?We have seen how Microsoft has been trying to change the way games are played. ‘Play Anywhere’ allows certain Xbox games to be played on the PC by cloud-saving the save states. Sony came into the industry earlier with PlayStation Now, but they lack the infrastructure that Microsoft has been developing. Both these services are distinct, yet with this new collaboration, it seems possible that the two companies can consider bringing more than just cross-platform play into the picture. Microsoft – Sony join handsReutersMicrosoft’s CEO, Satya Nadella said, “Sony has always been a leader in both entertainment and technology, and the collaboration we announced today builds on this history of innovation.”However, it isn’t advisable to jump to conclusions. Kyle Orland from Ars Technica believes that this may be a ‘keep your enemies closer’ scenario where both companies have their own interests at heart – Sony wants to use Microsoft’s advanced cloud technology, while Microsoft wants to squeeze that creative juice out of their new allies.Theorising aside, we can break down facts about the industry’s plans. Google has announced its own streaming service, Stadia, which seemed a very exciting technology during the demos. Moreover, reports suggest that Amazon may be developing its own cloud-based streaming service to add to the competition. This strengthens the possibility of obsolescence of gaming consoles by replacing them with streaming boxes.Is this the endgame for consoles?Gaming consoles may not become obsolete, because, for one, both Microsoft and Sony are hard at work with their new consoles (which already have been confirmed to have high-end CPUs and GPUs). At the same time, we have reason to believe that consoles meant specifically for gaming may be replaced by consoles which specialise in streaming, changing the way people game altogether. The logo of Sony Corp’s PlayStation is seen next to a woman at its booth during the Tokyo Game Show 2014 in Makuhari, east of Tokyo September 18, 2014.REUTERS/Yuya ShinoStreaming consoles are probably going to be a big thing, with Microsoft already having announced one console without support for physical media. If you’re wondering what the difference would be, these consoles will have high-end network cards and high RAM capacity to support the game as they stream the environment.It would be nice to see connectivity to multiple screens over a wireless network, but that is just wishful thinking. It is highly likely that companies will offer some sort of subscription for the gaming service, which will also be tiered according to genre or publisher.That change, however, is a thing of a future that is pretty far away. Most existing gamers would prefer having a quality, seamless experience of a dedicated gaming device that streaming a video of a game simply cannot replicate. The prospect of playing Forza and The Last of Us on a cheap streaming box or phone seems enticing, yet impure. Sure, freedom to game is important, but playing The Witcher 3 on a 6-inch phone will undoubtedly take away from the experience.Choppy frames, input lag and low-resolution streaming can be major problems for the next generation. However, as is the thing with technology, these problems will soon be overcome as newer infrastructure rolls in. With mixed reality, cloud gaming, and the ever-improving infrastructure, there may be a day when all games will be available for any screen at any time at low-priced subscriptions.This alliance creates tension for some in the community and opens exciting prospects for others. Developers and consumers alike can look forward to technology that will be more accessible than ever and allow for even greater levels of immersion. Microsofts mixed reality capture studios let people make their own hologramscenter_img Closelast_img read more

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