Paramount Global has agreed to sell publishing giant Simon & Schuster to private equity firm KKR for $1.62 billion in an all-cash transaction. Paramount Global President and CEO Bob Bakish said the transaction “delivers excellent value to Paramount shareholders while also positioning Simon & Schuster for its next phase of growth with KKR.” On closing, expected in the first half of 2024, Simon & Schuster will become a standalone private company under the continued leadership of President and CEO Jonathan Karp and COO and CFO Dennis Eulau. Read more

Meta Platforms is releasing AudioCraft, a generative AI framework that creates “high-quality,” “realistic” audio and music from text prompts. AudioCraft consists of three models: MusicGen, AudioGen and EnCodec, all of which Meta announced it is open-sourcing. Released in June, MusicGen was trained on Meta-owned and licensed music, and generates music from text prompts, while AudioGen, which was trained on public domain samples, generates sound effects (like honking horns and barking dogs) from text prompts. The EnCodec decoder allows “higher quality music generation with fewer artifacts,” according to Meta. Read more

Verizon has teamed with New York’s Metropolitan Museum of Art on a discovery app called Replica that lets consumers scan artwork to generate digital collectibles. The augmented reality Replica experience lets museum visitors scan items using a mobile app that stores them to Roblox as objects or avatar accessories. Roblox account holders can also virtually explore the Met’s facade and partake in other immersive experiences. The effort follows a previous Verizon collaboration with the museum and indicates the way institutions can leverage AR to engage consumers. Read more

Chinese tech firm Rokid released is first AR glasses in 2017, and is now making available an attachment called Rokid Station that brings an immersive 215-inch Android TV virtual screen experience to its new Rokid Max augmented reality eyewear. The Rokid Max glasses list for $439, but bundled with the Rokid Station the price is $529 (via preorder). The Rokid Max glasses feature micro OLED screens that can project what appears to be a 215-inch screen positioned about 10 feet from the user, creating the illusion of an immersive viewing experience. Read more

DJI’s Osmo Action 4 sports video camera promises “remarkable low-light performance” thanks to a larger 1/1.3-inch image sensor that captures more light through an utrawide f/2.8 aperture 155-degree lens. At $399, the Action 4 retails for about $70 more than the Action 3 but offers improvements including the ability to shoot in 10-bit D-Log M format for higher dynamic range that allows for greater color-correction flexibility in the editing room. The Action 4 also supports greater storage of up to 512GB using a required microSD card (the camera has no internal storage). Read more