A group of filmmakers led by Jason Reitman has purchased the 93-year-old Village Theatre in Westwood, an architectural gem that currently boasts one of the largest screens in Los Angeles. Originally opened as the Fox Westwood Village in 1931 and operated since 2010 by the Regency Theatres group, the structure’s unusual combination of Spanish Mission and Art Deco design earned it a Los Angeles Historic-Cultural Monument designation in 1988. After it was put on the market last year, Reitman gathered more than three dozen backers, including Steven Spielberg, Judd Apatow, J.J. Abrams, Christopher Nolan, Alejandro González Iñárritu and Alexander Payne. Read more

The NFL playoffs coupled with heavy streaming and the return of scripted broadcast programming sent January television viewership to a four-year high, according to Nielsen’s The Gauge, which charted a 1.4 percent viewership increase year-over-year — described as noteworthy in a month in which the NFL playoffs typically drive viewership higher. January 2024 included three of the top 10 highest-viewership TV days since The Gauge debuted in May 2021. YouTube continued its streaming dominance for the twelfth consecutive month, with 8.6 percent of January TV streaming viewership, according to The Gauge. Netflix was number two at 7.9 percent. Read more

“What if you could describe a sound and generate it with AI?,” asks startup ElevenLabs, which set out to do just that, and says it has succeeded. The two-year-old company explains it “used text prompts like ‘waves crashing,’ ‘metal clanging,’ ‘birds chirping,’ and ‘racing car engine’ to generate audio.” Best known for using machine learning to clone voices, the AI firm founded by Google and Palantir alums has yet to make publicly available its new text-to-sound model but began teasing it by releasing online demos this week. Some see the technology as a natural complement to the latest wave of image generators. Read more

Walmart is acquiring Vizio in a deal valued at $2.3 billion. The retail giant is following a template established by Amazon by expanding into entertainment media and connected TV advertising. The majority of Vizio’s growth from the last five years has come from ads on its WatchFree+ platform, which offers more than 260 channels, Walmart said touting a deal point. Vizio’s primary business is manufacturing value-priced TV sets. It also makes soundbars. The deal will instantly vault Walmart into a mix of players including Amazon, Roku, Samsung Ads and Google’s YouTube. Read more

GlobalFoundries has been selected to receive the first major grant in the Biden administration’s CHIPS and Science Act program to reinvigorate U.S. chip production. The $1.5 billion in grants will be used to construct and expand facilities in Vermont and New York. Additionally, the administration plans to make available $1.6 billion in federal loans. The grants are estimated to triple GlobalFoundries’ New York state production capacity within the next 10 years. Chipmakers including Intel, Micron Technology, Samsung Electronics and TSMC have submitted grant applications for government assistance in building new or updating existing facilities. Read more