Elon Musk Notifies Twitter of Plan to Cancel Acquisition Deal

Elon Musk is attempting to terminate his $44 billion deal to acquire social giant Twitter. Musk’s attorneys claimed in a regulatory filing that Twitter was in “material breach of multiple provisions” of the purchase agreement and “appears to have made false and misleading representations.” According to Twitter board chairman Bret Taylor, “The Twitter board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement.” The deal includes a $1 billion “breakup fee” and the company can hold the billionaire to his original agreement by taking him to court. Continue reading Elon Musk Notifies Twitter of Plan to Cancel Acquisition Deal

Forum to Demo Next-Gen Virtual Production Stage for ICVFX

HALOSTAGE is presenting an open forum and series of tech demonstrations over five days at The Henson Soundstage on The Jim Henson Company Lot in Los Angeles. The free event, slated for June 27-July 1, will feature virtual production LED stages with curved cinematic boards designed for in-camera visual effects (ICVFX). HALOSTAGE will offer in-depth presentations and hands-on shooting for all production departments. For studios and producers, demos will illustrate how mobile stages enable flexible setups and help eliminate investment risks. For the detailed program and to register, visit the HALOSTAGE event site. You can also check out the HALOSTAGE Invite PDF. Continue reading Forum to Demo Next-Gen Virtual Production Stage for ICVFX

In First for Apple, Maryland Store Employees Vote to Unionize

The National Labor Relations Board announced over the weekend that 65 Apple employees at a Towson, Maryland store (near Baltimore) have voted to unionize (33 voted against). The Apple CORE (Coalition of Organized Retail Employees) will become part of the International Association of Machinists and Aerospace Workers (IAM). The decision follows a growing labor trend across restaurant, retail and tech industries, while marking a first for Apple’s more than 270 U.S. retail locations. The Towson facility is the third Apple Store to conduct a union drive this year, but the first to hold an official vote. Continue reading In First for Apple, Maryland Store Employees Vote to Unionize

Sheryl Sandberg Is Stepping Down as COO of Meta Platforms

Sheryl Sandberg announced that she will be resigning from her 14-year tenure as the chief operating officer of Meta Platforms, the company formerly known as Facebook. She will be replaced by Meta’s chief growth officer Javier Olivan and maintain a seat on the company’s board of directors. Sandberg will work with Meta CEO Mark Zuckerberg to transition out of her role as COO and officially step down this fall. Recognized by Zuckerberg and others as the primary architect of Facebook’s advertising business, Baird analyst Colin Sebastian said Sandberg developed “one of the strongest business models in the digital economy.” Continue reading Sheryl Sandberg Is Stepping Down as COO of Meta Platforms

‘Fathead’ Team Explores Virtual Production During NAB Panel

Production in the cloud, virtual workflows and remote work solutions were hot topics at the 2022 NAB Show in Las Vegas last month. Erik Weaver, director of adaptive production at the Entertainment Technology Center@USC, discussed new tools and techniques implemented during the production of ETC’s “Fathead,” a short film that experimented with in-camera real-time VFX and LED stages. Weaver joined “Fathead” virtual production producer Tom Thudiyanplackal, the short’s post-production supervisor James Blevins, and the global lead for Film/TV production partners at Amazon Web Services (AWS) Jack Wenzinger for a compelling NAB panel discussion, “ICVFX and the Cloud.” Continue reading ‘Fathead’ Team Explores Virtual Production During NAB Panel

Twitter Accepts Musk’s $44 Billion Offer to Acquire Company

Twitter’s board has accepted billionaire Elon Musk’s offer to purchase the social media company for $44 billion, a financial value that reflects his April 14th offer of $54.20 per share. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk, the CEO of Tesla Motors and SpaceX, who earlier revealed a desire to make Twitter a private company. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.” Continue reading Twitter Accepts Musk’s $44 Billion Offer to Acquire Company

Elon Musk Makes ‘Best and Final’ $43B Offer to Buy Twitter

Less than two weeks after announcing he had built up a 9.2 percent stake in Twitter (and more recently turning down an offer to join its board of directors), billionaire CEO of SpaceX and Tesla Motors Elon Musk has made a cash offer of $54.20 a share to purchase the popular social networking service, valuing the company at about $43 billion. “Twitter needs to be transformed as a private company,” Musk wrote in a letter to Twitter chairman Bret Taylor disclosed in an SEC filing. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. Twitter has extraordinary potential. I will unlock it.” Continue reading Elon Musk Makes ‘Best and Final’ $43B Offer to Buy Twitter

YouTube Joins the Free, Ad-Supported Streaming TV Market

YouTube recently announced that it plans to offer full seasons of ad-supported streaming TV series free of charge, a first for the Google video platform. The move will put YouTube in competition with a growing number of free streaming services such as IMDb TV, Peacock, Plex, Pluto TV, The Roku Channel, Tubi and Xumo. U.S. consumers can expect more than 4,000 free episodes to start, with up to 100 additional film and television titles to be added each week. The popular video site already offers more than 1,500 free, ad-supported movies, so the television content is expected to serve as a vital expansion of its streaming options. Continue reading YouTube Joins the Free, Ad-Supported Streaming TV Market

CNN Readies Launch of Subscription Streaming News Outlet

WarnerMedia’s CNN is expected to charge $5.99 per month for its subscription-video streaming news outlet, CNN+, when it rolls out this spring. Early subscribers who sign up for CNN+ during the initial four-week promotion will pay $2.99 and have the option of CNN+ for life at 50 percent off the regular price, as long as the subscription is kept active. While many TV news networks have been launching free, ad-supported streaming outlets, CNN+ will reportedly run the same price as Fox Nation. The news network hopes that CNN+ will attract consumers growing up without cable and help the brand transition to a post-pay TV world. Continue reading CNN Readies Launch of Subscription Streaming News Outlet

Disney+ to Roll Out Ad-Supported Plan in U.S. Later This Year

Streaming video service Disney+ plans to introduce an ad-supported subscription tier in the U.S. later this year, with plans to expand the tier internationally in 2023. While the company has yet to announce pricing or specific launch dates, the AVOD plan will cost less than the current $7.99-per-month ad-free version. According to the entertainment giant, the new ad-supported offering is part of a larger goal to attract 230-260 million subscribers globally by the close of Disney’s 2024 fiscal year. Streaming leaders such as Netflix and Amazon Prime Video do not currently offer ad-supported options. Disney’s Hulu does offer an ad-supported streaming plan. Continue reading Disney+ to Roll Out Ad-Supported Plan in U.S. Later This Year

ETC Examines Realities of Multiverse at Digital Town Square

“Preparing for the Multiverse” was the subject of ETC@USC’s latest virtual Digital Town Square event. As the culture, art and commerce spaces rebalance to incorporate blended physical and virtual options, it is clearly important that we understand early on how changes will impact our business and creative endeavors. Our speakers spend their days thinking about how the emerging metaverses will impact creativity, business development and the fabric of society. We chose the word “multiverse” because we expect many metaverses to develop and compete — some designed top-down by multinational corporations and others developed bottom-up by DAO communities. Continue reading ETC Examines Realities of Multiverse at Digital Town Square

ETC White Paper Proposes Archive Solutions and Next Steps

ETC@USC’s Archive Working Group, a committee within its Adaptive and Virtual Production project, is releasing its most recent white paper, “Practical Cloud Archive,” an ongoing exploration of digital asset preservation challenges, proposing “a number of avenues to introduce cloud storage and cloud technology as part of an overall archive solution, without compromising the basic tenets of preservation.” Led by co-chair, Denis Leconte, VP of technology at Iron Mountain Entertainment Services, the paper is the next step toward the continuing process to study “more precise experimental data on cloud storage characteristics in terms of durability as measured using the fixity process” as discussed in the previous white paper, “Guideline for the Preservation of Digital Audio-Visual Assets in the Cloud.” Continue reading ETC White Paper Proposes Archive Solutions and Next Steps

ETC Releases Its CES 2022 Report: AI, AR, Multiverse, NFTs

Moving back toward an onsite experience, the Consumer Technology Association (CTA) hybrid format for CES 2022 opened to an anticipated reduced audience compared to previous years but continued its showcase of insightful and exciting product revelations and keynote addresses. With its own hybrid makeup, the ETC@USC team’s boots on the ground in Las Vegas and remote reporting in Los Angeles identified and covered four specific areas of activities — the multiverse, augmented reality, NFTs and artificial intelligence – as well as other CES tech trends, products, keynotes and highlights. ETC’s CES 2022 Report is now available online. Continue reading ETC Releases Its CES 2022 Report: AI, AR, Multiverse, NFTs