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Appeals Court Rejects Antitrust Suit Against Time Inc Hearst

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first_imgA federal appellate court has upheld the dismissal of a longstanding antitrust suit against Hearst and Time Inc.—among other current and former magazine publishers—filed by defunct wholesaler Anderson News, LLC, likely ending a legal battle so protracted that several of its original parties no longer exist.In an opinion released Monday reflecting a unanimous decision from the Second Circuit Court of Appeals, Judge Susan L. Carney wrote that the Southern District of New York had ruled correctly in 2015 when it dismissed a $371 million lawsuit brought by Anderson against six major magazine publishers, among other defendants.Anderson’s suit alleged that the publishers illegally colluded to drive it out of business in response to a seven-cent surcharge Anderson attempted to impose, in early 2009, on copies of magazines it delivered to retailers on behalf of the defendants—which included the aforementioned Hearst and Time Inc., as well as American Media, Inc., Bauer Publishing, Hachette Filipacchi Media, Rodale, Hudson News, and four distributors, including Curtis Circulation, who partnered with the publishers. The publishers—who at the time accounted for 42 percent of the U.S. market for single-copy magazine sales—balked at the proposed surcharge, instead opting to go with other wholesalers such as Hudson News and News Group, and Anderson was forced to cease operations and file for bankruptcy just weeks later.Some of the defendants, including AMI, Hearst, and Time Inc., countersued, claiming that Anderson itself had engaged in an illegal conspiracy by pressuring retailers Kroger and Walmart to refuse shipments from other magazine wholesalers and competitor Source Interlink to impose its own, similar surcharge.Both sets of claims were dismissed in the Southern District in 2010, before the Second Circuit reversed the dismissal in 2012, opening the door for Anderson to appeal.“Anderson sought to significantly change the state of the market by suddenly seeking to impose a surcharge and setting an immediate deadline for publishers to take it or leave it,” wrote Carney in her decision upholding the original dismissal. “It is not surprising that the defendants quickly rejected the proposal in favor of switching to existing wholesalers without surcharges, refusing to accept the terms of Anderson’s new business model. No reasonable jury could find on this record that the defendants entered into a ‘conscious commitment to a common scheme designed to achieve an unlawful objective.’”This latest Second Circuit ruling also upheld the dismissals of the counterclaims made against Anderson.“AMI is pleased that the Second Circuit upheld the grant of summary judgment in its favor, affirming AMI’s position that it did not improperly collude with other magazine publishers,” said an AMI spokesperson in a statement, echoing a similar statement from Meredith Corp., which acquired Time Inc. earlier this year.last_img read more

Oculus Quest and Rift S available for preorder both at 399 shipping

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first_img Now playing: Watch this: Preview • PlayStation VR made us smile, and it’s because of the games Mobile Gaming Digital Media Virtual Reality Apps Amazon Oculus Quest unboxed: what’s inside Facebook’s new VR… 43 Photos 1 Now playing: Watch this: We took Oculus Quest on vacation We took Oculus Quest on vacation at Amazon Enlarge ImageThe Oculus Quest (left) and Oculus Rift S (right) are both arriving in May, and both cost $399. John Kim/CNET Oculus ignited people’s interest in virtual reality when it announced a Kickstarter for the Rift headset in 2012, promising high quality VR for $300.  Fast-forward seven years, after a more than $2 billion acquisition by Facebook and the 2016 release of the Rift, and Oculus is preparing to launch its next-generation VR headsets.  They’re called the Oculus Quest and the Rift S, and both will cost $399 (£399 in the UK; Australian pricing is TBA but the UK price converts to about AU$740). But they’re rather different headsets.  The Oculus Quest is self-contained, working without a computer to power it or any extra sensors set up around a room to track where you’re moving. The Rift S, meanwhile, offers better visuals while still connected by wire to a computer, but it also ditches sensors around a room. “Now, getting into VR is as easy as gaming on a console,” Facebook said in a statement. The new headsets come as Valve, whose Steam store and Half-Life first-person shooter series have made it a household name among gamers, prepares to release its first headset, the $499 Valve Index. And that’s not including other competitors, such as Sony’s $299 PlayStation VR, HTC’s Vive and headsets from Lenovo, HP and Samsung that’re powered by Microsoft’s Windows Mixed Reality technology. 58-oculus-questEnlarge ImageThe Quest is a wireless self-contained headset, offering a middle ground between the low-power Oculus Go and high-power Rift S. Sarah Tew/CNET The Quest is a new device Whereas the Rift and Rift S rely on an outside computer connected by a wire to power the virtual world you see, and the $199 Oculus Go is designed to be a wire-free self-contained entry-level VR device, the Oculus Quest is meant to be somewhere in the middle.  At its heart, the Quest is meant to offer higher-end games designed to work with the Oculus hand controllers, like the music rhythm game Beat Saber and the boxing game Creed: Rise to Glory. But it’s also self-contained, running a powerful, yet small, computer in the headset. To pull off that trick, developers say, the Oculus Quest isn’t as capable as its beefier cousin, the Rift S. Its screen doesn’t show as many details, it’s not able to pack as many characters on the screen at a time, and apps made for it can’t assume they’ll always be connected to the internet. (Sometimes people might take this on a train or on vacation). The Quest still uses the same controllers as the Rift S Though the Quest and Rift S won’t always be able to play the same games, the Quest will have the same controllers. That’s a step up from the entry-level Oculus Go, which had a simpler, wandlike controller that wasn’t capable of doing as much as the more full-fledged hand controllers Oculus offers. Oculus Quest is fully mobile VR They’re both $399, go on preorder Tuesday and ship May 21 If you’re already convinced, you can preorder the devices on the Oculus website, at Amazon and elsewhere. Full preorder info is available here, or you can just use the buttons below (note that CNET may get a share of revenue from the sale of the products). See Quest at AmazonSee Rift S at Amazon 5:18 $217 5:18 Tags See It $398.00 Comment Oculus Valve Virtual Reality Facebook HTC Microsoft Samsung Sony Nintendo Review • PlayStation VR is pretty damn cool Best laptops for college students: We’ve got an affordable laptop for every student. Best live TV streaming services: Ditch your cable company but keep the live channels and DVR. Share your voice Whether the new devices will draw users is anyone’s guess. A recent survey from industry tracker IDC, which was sponsored by Sony, found that headset sales in the US, UK, Germany, France and Japan rose 60% in 2018 to 3.9 million headsets, up from 2.4 million in 2017. But that’s still small compared with the hundreds of millions of video game consoles Sony, Microsoft and Nintendo have sold since 2013. Here’s everything to know about the Quest and Rift S so far. The Rift S is a refinement  Oculus says the Rift S will offer more-detailed and sharper-looking visuals than the original Oculus Rift, which shipped in 2016. But the real change is to the cameras mounted on its sides. There are two in the front, one on each side, and one on the top, all designed to track the outside world using a technology called “Oculus Insight,” so that the headset knows when you’re leaning one direction or another or suddenly duck to avoid something. Those cameras work in concert with the company’s hand controllers too. See it CNET Review Oculus Quest The standalone VR headset earns our Editors’ Choice. Read Review Sony PlayStation VR 8:25 Mentioned Above Sony PlayStation VR (Headset) $245 CNET may get a commission from retail offers. Now playing: Watch this:last_img read more

US blocks five more Chinese tech companies for national security reasons

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first_img Tags Samsung, LG, Motorola: How soon can we expect 5G phones? 3 In addition to being put on the entity list last month, President Donald Trump signed an executive order essentially banning the company in light of national security concerns that Huawei had close ties with the Chinese government. Huawei has repeatedly denied that charge.Huawei is expected to take a $30 billion hit to its revenue as a result, although CEO Ren Zhengfei earlier this week said he is not too concerned about the loss.Huawei has filed a motion in US court to have US legislation that bars federal agencies from buying its products ruled unconstitutional, and has also sent an ex parte memo to the FCC in which it objects to being banned on the grounds of national security threats. Why Microsoft is selling Huawei laptops again Huawei ban: Full timeline on how and why its phones are under fire Now playing: Watch this: 4:49 Hardware and software vendors have been fleeing Huawei: Amazon Japan reportedly no longer offers Huawei devices for sale, and last month, Google locked Huawei out of its Android updates, though the US Commerce Department granted it a three-month general license to update existing devices.In a turnaround, Microsoft began selling its existing inventory of Huawei MateBook laptops earlier this week, saying it “will continue to respond to the many business, technical and regulatory complexities.”Huawei at the end of May moved to trademark the name of its operating system, Hongmeng, in Peru. Share your voicecenter_img Comments 13 Photos The Huawei ban Huawei against the world (The 3:59, Ep. 564) Computers Mobile Politics The US government is blacklisting more Chinese tech companies. CBS/iStockphoto The US Commerce Department has blacklisted another five Chinese tech companies, preventing them from buying US-made chips and components. Like Chinese tech giant Huawei last month, the companies were added to the United State’s “entity list” (PDF) due to national security concerns. The filing, spotted earlier Friday by CNBC, blocks China-based Higon, Sugon, Chengdu Haiguang Integrated Circuit, Chengdu Haiguang Microelectronics Technology and Wuxi Jiangnan Institute of Computing Technology.Sugon and Wuxi lead China’s exascale high-performance computing development, the filing says. Sugon’s computers have military users, while Wuxi is owned by the 56th Research Institute of the General Staff of China’s People’s Liberation Army “to support China’s military modernization.”Higan develops integrated circuits, electronic information systems, software and computer system integration, while the Chengdu entities design X86 architecture chips and produce integrated circuits.As pointed out by CNBC, US chip companies’ stock fell following the announcement, with Nvidia down by 1%, Xilinx by 2.2% and Advanced Micro Devices by 2%. Legal Huawei Donald Trumplast_img read more

Stalker stabs nurse to death in broad daylight

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first_imgMap of ThakurgaoA young nurse was stabbed to death by a stalker at Madrasa Para village of Salandar union in Sadar upazila of Thakurgaon on Thursday.The deceased is Tanzina Akhter, 20, daughter of Hamid Ali of the village and a nurse of Grameen Eye Hospital in the city.Ashiqur Rahman, officer-in-charge of Thakurgaon Sadar police station, said a youth named Arman Hossain Jibon waylaid Tanzina and stabbed her severely when she was going to the hospital at 8.30am on 20 June, reports UNB.Hearing her screams, locals rushed in and rescued Tanzina. She was taken to Thakurgaon Sadar Hospital where doctors referred her to Rangpur Medical College Hospital. Tanzina AkhterShe succumbed to her injuries at the hospital on Thursday morning.Tanzina’s father Hamid Ali alleged that Jibon used to stalk different girls in the area. As Tanzina protested at the stalking, Jibon stabbed her.Police arrested Jiban after a case was filed with Thakurgaon Sadar police station.last_img read more

Netflix Plans to Raise 2 Billion in New Debt to Fund Content

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first_img ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15 The proposed $2 billion debt offering comes less than a week after Netflix blew past expectations for subscriber growth for the third quarter of 2018, netting 7 million new streaming customers for the period (including 1.09 million in the U.S.).Netflix continues to burn cash — and, as it has repeatedly told investors, that will continue for at least another year. Netflix’s free cash flow in Q3 was -$859 million (compared with -$465 million in the year-earlier quarter). For full year 2018, the company expects free cash flow will be closer to -$3 billion than to -$4 billion, and that negative free cash flow in 2019 will be roughly flat with this year.In addition to its rising debt load, Netflix has billions in off-balance-sheet content-spending obligations mostly due within the next five years. As of Sept. 30, 2018, the company had $18.6 billion of obligations, which includes $10.2 billion due in one year or beyond.“We recognize we are making huge cash investments in content, and we want to assure our investors that we have the same high confidence in the underlying economics as our cash investments in the past,” Netflix said in its Oct. 16 letter to shareholders. “These investments we see as very likely to help us to keep our revenue and operating profits growing for a very long time ahead.”According to Netflix, for the $2 billion in new debt (the principal amount which may change), the interest rate, redemption provisions, maturity date and other terms will be determined by negotiations between the company and the initial purchasers. Popular on Variety center_img Netflix is again going to debt markets to fund its enormous appetite for content, announcing plans Monday to raise $2 billion in financing through debt securities.As of Sept. 30, 2018, Netflix reported $8.34 billion in long-term debt, up 71% from $4.89 billion a year prior. The latest proposed debt offering is the sixth time in less than four years that the company is raising $1 billion or more through bonds.Netflix shares fell more than 3% in early trading Monday after the announcement of the plans to issue $2 billion in new debt. [UPDATE: The stock recovered a bit, closing down 0.9% for the day to $329.54 per share.]On Monday, Moody’s Investors Service assigned a “Ba3” junk-bond rating to Netflix’s proposed offering, indicating a non-investment grade “speculative” security. The outlook for Netflix remains “stable,” according to Moody’s, which “reflects our expectation that Netflix’s operating results will improve gradually and the company will de-lever through revenue, EBITDA and margin growth.”last_img read more