Posts tagged with "MGM"

Amazon to buy Roomba-maker iRobot

August 8, 2022

Amazon continues to fill the connected-home “vacuum,” as the online retailer announced plans on Friday, August 5, to buy Roomba-maker iRobot  for $1.7 billion, including debt, reports The Wall Street Journal.

The wireless, smart-vacuum learns and maps spaces where it sucks up dust and messes. Roomba was recently a featured product in Amazon’s Prime Day event for the eighth consecutive year

Amazon said it is paying $61 a share for iRobot in an all-cash deal. The price represents a 22% premium to iRobot’s closing price of $49.99 on Thursday.

iRobot Chief Executive Colin Angle will remain in his position upon completion of the acquisition, which requires approval from shareholders.

Roomba would join other Amazon-owned products like the Alexa virtual assistant speaker and Ring video doorbell, which, together, give the retailer more ways to power smart homes.

IRobot would be the fourth-largest acquisition by Amazon—ranking behind the 2017 acquisition of Whole Foods for $13.7 billion, an $8.5 billion purchase of movie studio MGM in March, and last month’s agreement to buy 1Life Healthcare for $3.9 billion.

Research contact: @WSJ

Big media and technology companies bankroll a $1 billion small-screen TV venture

August 8, 2018

Disney, Alibaba and NBCUniversal are participating in a $1 billion financing round for a new video streaming service—led by ex-Hewlett Packard Enterprise CEO Meg Whitman and ex-Walt Disney Studios Chairman Jeffrey Katzenberg; and designed specifically for mobile viewing, CNBC reported on August 6.

The product, dubbed NewTV for now, will “access the best talent and intellectual property for this next era in entertainment,” Katzenberg, who will be chairman and founder of the initiative, said in a statement.

Katzenberg and his investors—which also include Fox, Viacom, Sony Pictures, Lionsgate, and MGM— are banking on an untapped audience that craves high-quality content designed for smartphones and tablets.

Variety revealed this week that NewTV is aiming to launch by the end of 2019, with a premium lineup of original, short-form series comprising episodes of 10 minutes each. The service will have two subscription tiers: an advertising-free plan and an “advertising-light” option (a la Hulu), according to Whitman. Each series will cost between $5 million  and $6 million per hour to produce.

“With NewTV, we’ll give consumers a user-friendly platform, built for mobile, that delivers the best stories, created by the world’s top talent, allowing users to make the most of every moment of their day,” said Whitman, NewTV’s CEO, in a formal company statement on August 7.

NewTV’s platform is owned by Katzenberg’s holding company WndrCo.

More than half of all video viewing is now happening on mobile, and most of those views come from phones, not tablets, according to a study by : That’s video platform provider Ooyala.

Research contact: howard@wavekilo.com