TiVo added German, Italian and Portuguese language support to a module within its content discovery platform, the company said Wednesday. The platform provides natural-language understanding technology, relevant results and a personalized entertainment experience.
CBS, within 30 days, will donate $20 million to “one or more charitable organizations that support the #MeToo movement and equality for women in the workplace” under its separation agreement with Les Moonves, who resigned Sunday as chairman, president and CEO amid allegations of sexual misconduct (see the personals section of the Aug. 3 issue), said the company in an SEC filing Monday. Moonves will pick the charities “in consultation with” CBS, it said. CBS also will pay $120 million into a “grantor trust” and will keep the money if its board determines that Moonves was fired for cause and he doesn’t seek an arbitration appeal, it said. The board will make that determination within 30 days after independent investigators from Covington & Burling and Debevoise & Plimpton submit their report on the allegations, but “in no event later” than Jan. 31, it said. If the board finds Moonves was fired for cause, CBS will have “no further obligations” to him, it said. Until that determination, Moonves will perform “transition advisory services” for a year and will be given “office services and security services” for up to two years, it said. Moonves would collect the $120 million from the grantor trust if the board determines he was fired without cause, it said. The CEO's departure came in an announcement Sunday that the group of TV stations and its controlling shareholder affiliated with the Redstone family ended their litigation. That shareholder, National Amusements, confirmed it doesn't plan to propose combining CBS and Viacom and won't do so for at least two years, and "will give good faith consideration to any business combination transaction or other strategic alternative that the independent directors believe are in the best interests of the Company and its stockholders." CBS shares closed 1.5 percent lower Monday at $55.20, while Viacom's stock was little changed, too.
Wells Fargo Wednesday downgraded AT&T to market perform, citing questions about the Time Warner takeover. “While we agree in the longer term story of [AT&T’s] strategic perspective, we believe the stock will be range-bound over the near-to-medium term,” wrote analyst Jennifer Fritzsche. The cut from outperform is driven by “pressure on entertainment margins and enterprise stability not yet seen,” the many “new balls to juggle (and invest in)" and that “achieving delevering targets might push other priorities down,” she said.
Panasonic updated its Lumix LX100 series camera with the model II version, packing a 17-megapixel Four Thirds sensor, it said Wednesday. Aperture range of the 24mm-75mm (35mm equivalent) Leica DC Vario-Summilux lens is F1.7-F2.8, Panasonic said. Landscapes can be captured in 24mm wide-angle in 4:3, 3:2 or 16:9 aspect ratios on the high-end compact camera, and video capture specs are 4K resolution at 30p or 24p in MP4, it said. Connectivity features include Bluetooth and Wi-Fi, and the camera can be charged by USB AC. Suggested retail price will be $999 when it ships in October. The four-year-old Lumix LX100 was selling at various retailers Wednesday for $597.
Amazon didn't respond to questions Monday about a Friday Bloomberg report saying the Fire TV maker is planning to extend the line to include a DVR. The recording device, said to carry the name "Frank" internally, would include physical storage and connect to Fire TV boxes, said the report. Users reportedly would be able to record live TV and stream the video to a smartphone for later viewing.
The FCC Office of Engineering and Technology signed off on Altice USA plans for a variety of both indoor and outdoor wireless citizens broadband radio service product trials in the 3.5 GHz band in anticipation of a planned mobile service to rollout in 2019. In applications for special temporary authority, approved last month, last week and Tuesday (see here, here and here), Altice said it plans testing for six months in the 3650-3700 MHz band in two sections of Long Island, New York, and in the 3550-3700 MHz band in Arkansas. CEO Dexter Goei, in an earnings call with analysts this month, said the CBRS testing "may be a good complementary capacity" to its own WiFi network and MVNO partner Sprint's network, as Altice remains on track to launch a mobile service in 2019. The company didn't comment Tuesday.
Control4 granted Charlie Kindel, newly named senior vice president-products and services (see 1808020050), a larger than 10 percent stake June 1, said an SEC Form 3 filed last week. Kindel received 48,150 restricted stock units, most vesting in 2018 and '19, with some vesting into 2021, of which 17,850 are performance based. Control4 disclosed the appointment of the former Microsoft executive, who most recently headed up Alexa development for Amazon, Aug. 2. Shares closed down 1 percent Monday at $31.99.
Xperi’s HD Radio licensing billings in Q2 weren't enough to offset declines in game consoles, Blu-ray players and PCs, said CEO Jon Kirchner on a Wednesday earnings call. The Cadillac XT4, Jeep Wrangler, Jaguar I-Pace and Subaru Ascent will launch with HD Radio technology in the quarter, he said, but total product licensing billings for the DTS parent were $100.7 million, down from $107.3 million last year, he said. A “sizable” non-recurring engineering payment in the company’s automotive business didn’t recur in 2018, he said, saying billings declined 5 percent to $20.8 million. Mobile billings dropped 13 percent to $9 million, on soft PC-related sales of legacy audio products, Kirchner said, and home segment billings slipped slightly to $19.2 million on Blu-ray-related sluggishness. The company announced Wednesday DTS Connected Radio will launch from a major automotive partner in 2019. Xperi is “actively engaged” with other car companies about the system that delivers analog AM/FM and digital DAB and HD Radio by pairing broadcast programming with IP-delivered content. DTS Connected Radio aggregates metadata, including information about on-air radio program and talent, station and artist and song directly from global broadcasters for an “enhanced in-vehicle radio experience,” it said. Xperi will continue to work with mobile partners on immersive audio and imaging solutions for higher-end smartphones and gaming headsets, and the Vivo Nex phone launched in June with the latest version of Headphone:X, Kirchner said. In facial recognition, Xperi is working to advance its “sensor-agnostic” 3D facial recognition solution to capture what it sees as a large addressable market and facilitate adoption, Kirchner said. Products are due in Q1 from at least one partner, he said. In artificial and virtual reality, Xperi has an opportunity via imaging biometrics and audio processing, Kirchner said. The CEO projected a 12-14 percent compound annual growth rate in its product licensing business through 2022 but cautioned that due to the way ecosystems develop, growth will be “nonlinear." He referenced new solutions expected to ship in mobile and automotive markets in 2020 and beyond. For Q3, the company projects billings of $97 million-$102 million. Shares closed 2.4 percent higher Thursday at $16.70.
Asus is shipping the ZenBook Pro 15 ($1,799), a 15-inch gaming laptop with a 4K Ultra HD touch-screen display, said to be Pantone validated for “guaranteed color accuracy out of the box.” Hardware specs include an Intel Core i7 processor, Nvidia GeForce GTX 1050 graphics processor, Harman Kardon speakers, two USB-C Thunderbolt 3 ports, 16 GB RAM, a 1 TB SSD and a fingerprint sensor, said the company. The laptop’s 178-degree viewing angle is said to allow users to view the display off-axis.
Sony shipped 2.6 million TVs in Q1 ended June 30, a slight increase from the 2.5 million sets in the same year-earlier quarter, the company reported Tuesday. Sony left unchanged its April forecast that it will ship 11.5 million TVs this fiscal year, which would be a 7 percent year-on-year decline. The rise in TV unit sales, plus increases in home audio and video sales resulting from strong performance in headphones, helped push revenue in Sony’s core Home Entertainment & Sound sector 6 percent higher to $2.4 billion ($1 = 111 yen). Operating profit in the sector declined 23 percent to $156 million because of an increase in marketing and R&D expenses. Sony’s overall Q1 operating profit soared 24 percent to $1.7 billion on “significant” increases in the Games & Network Services segment. Revenue in that sector jumped 36 percent to $4.2 billion, while operating profit nearly quadrupled to $748.8 million. Though Sony shipped 3.2 million PS4 consoles in the quarter, 100,000 fewer than a year earlier, it raised its forecast for the year by a million units to 17 million.