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The New M&A Rules That Would Delay Million-Dollar Deals
The New M&A Rules That Would Delay Million-Dollar Deals
The US antitrust agencies are requiring firms to turn over much more information about their transactions than before
2023-06-28 03:05
Microsoft takes over Activision Blizzard: Everything you need to know about $69bn deal for Call of Duty maker
Microsoft takes over Activision Blizzard: Everything you need to know about $69bn deal for Call of Duty maker
After nearly two years and $69 billion, Microsoft’s purchase of Activision Blizzard is finally complete. The Xbox maker and the game developer are joining together in the biggest purchase in gaming history. It is a vast business undertaking that will define the future of the two companies and the gaming industry more broadly. But what will it actually mean for the gamers who use Microsoft’s platforms and play Activision’s games – as well as those that don’t? What happened in the deal? Microsoft first announced that it wanted to buy Activision Blizzard in January last year. Microsoft makes the Xbox and Activision Blizzard makes many of the worlds biggest games – it is often associated with Call of Duty, but also makes World Of Warcraft, Overwatch and mobile giant Candy Crush, and more. In the time since, the deal has been hit by opposition from rivals, primarily PlayStation maker Sony, and has been undergoing scrutiny from regulators, who worried that it would give Microsoft too much power in the gaming market, and harm players as a result. Regulators across the world expressed those reservations, and in some cases required Microsoft to make changes to the deal. Chief among those changes were Microsoft’s decision to give French gaming company Ubisoft the rights to distribute Activision games in the cloud. This was a response to concerns from the UK’s Competition and Markets Authority, which expressed concern specifically that the deal would give Microsoft too much power over cloud gaming. But there were a host of less dramatic and expensive commitments. That included signing deals with other companies such as Sony and Nintendo to commit to keep Call of Duty games on their platforms. What will it mean for Xbox players? At least initially, the biggest consequences of the deal are likely to be for Xbox’s Game Pass, the subscription platform that allows players to download and play games in return for a monthly fee. More Activision games are expected to come to that platform as a result of the acquisition. But even that won’t happen straight away, at least with all games. Activision said in a statement this week – before the deal closed – that its big titles won’t be coming to Game Pass this year, and has not made any commitments about which games will do so or when. “While we do not have plans to put Modern Warfare III or Diablo IV into Game Pass this year, once the deal closes, we expect to start working with Xbox to bring our titles to more players around the world,” Activision wrote in a tweet. “And we anticipate that we would begin adding games into Game Pass sometime in the course of next year.” What will it mean for gamers on other platforms? Much of the discussion with regulators has been about this question. And many of the concessions that Microsoft gave over the deal were done with the aim of ensuring that the answer is: not that much, at least at first. Xbox has committed to keep making its games available on other platforms such as PlayStation and Nintendo Switch, as well as on cloud platforms. And Xbox chief Phil Spencer echoed that commitment in the announcement that the deal was completed. “Whether you play on Xbox, PlayStation, Nintendo, PC or mobile, you are welcome here - and will remain welcome, even if Xbox isn’t where you play your favourite franchise. Because when everyone plays, we all win,” he wrote. But the bigger question might be about new games, especially those that come out after the initial commitments are over. Microsoft has committed to keep Call of Duty on rival platforms for 10 years, for instance – but things could change in the years after that, and with other, new games. When Microsoft bought another game developer Bethesda in 2020, for instance, there were questions over what it would mean for players on other platforms, and whether its games would be exclusive to Microsoft. Its most recent game Starcraft was available only on the Xbox and PC, and the upcoming Elder Scrolls VI is likely to be the same. Read More Nasa launches Psyche mission to study an ancient metal asteroid Microsoft buys Call of Duty developer in biggest deal in gaming history Microsoft gets go-ahead to buy Call of Duty maker Activision Nasa launches Psyche mission to study an ancient metal asteroid Microsoft buys Call of Duty developer in biggest deal in gaming history Microsoft gets go-ahead to buy Call of Duty maker Activision
2023-10-13 23:13
ChatGPT can now generate images and create illustrated books
ChatGPT can now generate images and create illustrated books
OpenAI has integrated its AI image generator into its hugely popular ChatGPT chatbot. The Microsoft-backed company unveiled its latest version of DALL-E, named DALL-E 3, on Wednesday, allowing users to generate images with “significantly more nuance and detail” compared to previous systems By converging the capabilities of its two distinct generative AI tools, OpenAI researchers claim that users will now be able to “brainstorm” ideas with the artificial intelligence. OpenAI boss Sam Altman gave an example of how the dual functionality could be used, saying that it could write and illustrate a children’s bedtime story from a few simple prompts. Current text-to-image systems, such as Midjourney or OpenAI’s Dall-E 2, often misinterpret commands from users due to their inability to understand specific requests. This has resulted in the emergence of prompt engineers, also known as prompt wizards, who train to optimise the results of generative artificial intelligence tools like ChatGPT and Dall-E. “Our new text-to-image model, DALL-E 3, can translate nuanced requests into extremely detailed and accurate images,” OpenAI stated. “DALL-E 3 is built natively on ChatGPT, which lets you use ChatGPT as a brainstorming partner and refiner of your prompts. Just ask ChatGPT what you want to see in anything from a simple sentence to a detailed paragraph.” The latest version of DALL-E will only be available for paying users, with ChatGPT Plus and ChatGPT Enterprise receiving the upgrade in October. OpenAI has also introduced improved safety features to its AI image generator, which it claims will prevent people from creating lewd or hateful images. These protections include ignoring certain words and denying requests to depict public figures. Earlier this month, AI pioneer Mustafa Suleyman warned that AI could be misused to potentially generate synthetic viruses that could trigger pandemics. “The darkest scenario is that people will experiment with pathogens, engineered synthetic pathogens that might end up accidentally or intentionally being more transmissible or more lethal,” he told The Diary of a CEO podcast. “That’s where we need containment. We have to limit access to the tools and the know-how to carry out that kind of experimentation.” Read More Amazon Alexa gets new AI powers, with the same kind of brain as ChatGPT Amazon Alexa is getting the same brain as ChatGPT UK competition regulator proposes guiding principles to make AI market safe Chatbots ‘able to outperform most humans at creative thinking task’
2023-09-21 23:29
Press groups express concern about threats for Guatemalan journalists
Press groups express concern about threats for Guatemalan journalists
A coalition of press freedom groups is expressing concern about what they called the “historic” threats facing Guatemalan journalists in the face of government prosecutions
2023-05-18 04:25
Inside the phone calls that made Spence vs Crawford – a generational fight
Inside the phone calls that made Spence vs Crawford – a generational fight
Errol Spence Jr knew this time would be different. For the best part of five years, fans had debated what a fight between the two best welterweights of their generation would look like. Promoters had spoken in public and in private about whether fans would get a look at that fight at all. On more than one occasion, the contest seemed to be within grasp before drifting out of reach. But when Terence Crawford texted him, Spence Jr knew this time would be different. “I think it really took us just getting on the phone, and talking to each other,” Spence told The Independent over Zoom, a week out from Saturday’s fight at the T-Mobile Arena in Las Vegas. “It took us relaying different messages to each other about the negotiations, and basically me just giving him stuff that he wanted to make the fight happen. I didn’t really want much. The big obstacles were the [purse] split and the ring walk.” Such obstacles could not have been overcome without Spence and his fellow American sharing a mutual respect, both fighters told The Independent, with Crawford saying on a call with other reporters: “You’ve got a lot of people that put on a little circus act and start going about things the wrong way – being disrespectful, taking it to another level that it doesn’t need to be taken to. Sometimes, you can’t come back from that.” There was no such problem when Crawford, 35, and Spence, 33, picked up the phone, initially bypassing promoters, agents and handlers to try to hash out a deal for a historic fight – one between two unbeaten title holders, to crown an undisputed welterweight champion. “There’s definitely a respect between us, I respect him a lot,” Spence acknowledged, while Crawford said: “It was never nothing [antagonistic], it was all business and respect [on the phone]. “I hit him up on 1 January,” Crawford added. “I sent him a text, just telling him that we need to actually fight, to make history. He was in agreement about us fighting. And at that particular time, I reached out to [promoter] Al Haymon and started back up the conversation. Errol got back on a phone call and started talking about the structure of the fight, the deal. That’s how the fight was made.” “The conversations were just us talking about what was going on with the negotiations, and seeing if we could get to the middle of it – the meat of it,” Spence explained. “Basically there was some stuff that he wanted, which me and my team didn’t agree to [at first].” Eventually, however, agreements were reached. It has been a year of mixed results in terms of talks over marquee fights. Tyson Fury’s prospective clash with Oleksandr Usyk collapsed, despite the latter agreeing to a 70-30 purse split in the Briton’s favour. The Ukrainian made that concession in spite of holding three of the four major heavyweight belts, compared to Fury’s one, and holding an unbeaten record like his potential opponent. A long-awaited bout between Fury and compatriot Anthony Joshua also crashed and burned before it got off the ground, and not for the first time. However, a highly-anticipated showdown between Gervonta “Tank” Davis and Ryan Garcia did materialise, as did huge title fights between Vasiliy Lomachenko and Devin Haney and Josh Taylor and Teofimo Lopez. So, should more fighters take the approach that Spence and Crawford did? “If they’re mature enough, they definitely need to get on the phone with each other and talk,” Spence said. “But I don’t know if they’re as level-headed as me and Terence are, talking and having disagreements but trying to make the fight happen. You’ve got to have a level head to talk to another fighter and just come up with the same scenario. [It was me] talking to my people, and then at some points we had my team and his team, himself and myself. We were always on a call with each other, trying to figure out how to make the fight happen.” Crawford then told The Independent: “If you have two grown men that are willing to set aside their pride and put the hype to the side and come together and both want the same thing, then yes,” before telling another reporter: “I can’t speak on other people’s situations, because I’m not the one trying to make the fight happen with them, but boxers are the ones in charge. “Once a fighter realises that, the advisers, promoters and managers go to work. They’ve got to give the fighter what he wants. You’ve had two cases recently: ‘Tank’ and Garcia wanted to fight each other, and they made sure that deal got done, just like you have Terence Crawford and Errol Spence wanting to fight each other. We both went to our people and got the fight done, so it all comes down to the fighters at the end of the day. “Yeah, our handlers want to look out for our best interests and make sure we make the best business decision at the right time, but it’s up to us as fighters to say ‘yes’ or ‘no’. There’s a lot of fighters that can say, ‘No, I don’t wanna fight this guy; I want him, give me him,’ and if the opposing fighter is saying the same thing, there’s nothing anyone can do but to make the fight happen.” And now, one of the most-anticipated fights of a generation will happen, when Spence carries the WBC, WBA and IBF welterweight titles into the T-Mobile Arena, while Crawford brings the WBO belt. “I definitely think it’s something that would’ve been hanging over our heads for our whole careers, if we didn’t make this fight happen,” Spence admitted. “It’d have been tied to us all the time. ‘Man, Spence, I wish he would’ve fought Terence.’ Or, ‘Man, I wish Terence would’ve fought Spence.’ It would’ve been that super-fight that didn’t happen. “I feel like it’s definitely gonna be on another level. This is a super-fight, people have it as a 50-50 fight. [It will crown] the undisputed welterweight champion, we’re both undefeated. The accolades that he has, the accolades that I have...” Meanwhile, Crawford said: “It means a lot, given the history that’s on the line, but at the same time there are a lot of other fights in the history of boxing that didn’t happen. So, if the fight with Errol didn’t happen, I wouldn’t be the first and I wouldn’t be the last to have people talking about them like that. It’d just be another fight on the list.” Both boxers are grounded as the fight approaches, even while acknowledging that it could define both men’s careers. Spence told The Independent: “Just because it’s a big fight, that doesn’t mean it isn’t just another day in the ring for me. I’ve been treating it as that, as far as my emotions and how I feel, but I’ve definitely been training hard and focused a lot more on my craft, my abilities, and my training. But when I wake up on the day of the fight, it’s gonna be another day in the office. [My first thought] will probably be what I’m gonna eat!” “This fight week feels the same,” Crawford said. “It definitely feels bigger, but at the same time, in my mind it’s no different. I’m already pound-for-pound No 1, I feel. In my eyes, a win over Errol Spence Jr would just put me as undisputed, pound-for-pound No 1 in everybody’s eyes. There would be no debate.” On Saturday, a maximum of 12 rounds will end five years of debate. And all thanks to one text. TNT Sports Box Office will show Errol Spence Jr vs Terence Crawford exclusively live on Saturday 29 July. Learn more at https://www.tntsports.co.uk/boxoffice Read More Spence vs Crawford live stream: How to watch fight online and on TV this weekend The factor that could decide Spence vs Crawford super-fight Terence Crawford wins coin toss with Errol Spence Jr to make key fight-night decision Exclusive look at Terence Crawford’s ring gear ahead of clash with Errol Spence Jr The meaning behind Terence Crawford’s ring gear in Errol Spence Jr clash Terence Crawford wins coin toss with Errol Spence to make key fight-night decision
2023-07-29 15:09
Springbok Kolbe leaving Top 14 Toulon ahead of World Cup
Springbok Kolbe leaving Top 14 Toulon ahead of World Cup
World Cup-winning Springbok winger Cheslin Kolbe has left Toulon three months before South Africa begin the defence of their title...
2023-05-29 23:24
Gabriel Jesus urges Arsenal team-mates to believe they can win Champions League
Gabriel Jesus urges Arsenal team-mates to believe they can win Champions League
Gabriel Jesus believes he can finally win the Champions League and has told his Arsenal team-mates to share the faith. The Brazil forward has a love affair with Europe’s premiere club competition and was the difference-maker as Arsenal won 2-1 at Sevilla on Tuesday night. Jesus provided a moment of magic to lay on the opening goal for compatriot Gabriel Martinelli before curling home a fine individual effort – although his celebrations were curtailed as he limped off with 10 minutes to go. The former Manchester City striker, who came off the bench when Pep Guardiola’s side lost the 2021 Champions League final to Chelsea, has a phenomenal strike-rate in the competition – his goal at the Ramon Sanchez-Pizjuan Stadium was his 23rd in 41 appearances for City and Arsenal. He still harbours ambitions of winning the trophy and feels it is something he and his colleagues can achieve this season. “It’s a competition that I love,” he said after his man-of-the-match display. “All the competitions I love, because I just love to play football. But I don’t know, since day one in the Champions League, my debut, I scored goals. Obviously it is not easy, but I think we have to believe. If we don’t believe, we cannot be here Gabriel Jesus “I haven’t won it yet, so I am looking for this, for this beautiful trophy. Obviously it is not easy, but I think we have to believe. If we don’t believe, we cannot be here.” While his goal was a moment to savour, Jesus’ role in Martinelli’s opening effort will live long in the memory as a deft touch took two Sevilla midfielders out of the game. A perfectly-weighted slide-rule pass played in Martinelli who, having missed a golden chance to break the deadlock earlier in the game, obliged with a cool finish as the two Brazil internationals combined to great effect. “I think for me as the type of player I am, I drop a lot more on the left side than the right side,” Jesus replied when asked about his relationship and understanding playing alongside Martinelli. “Obviously I drop on the right as well to help B (Bukayo Saka) and to play with B, but I drop more on the left. It works. “The wingers we have, not just Martinelli and B, but Reiss (Nelson), Leo (Trossard) and even Eddie (Nketiah) or Fabio (Vieira) when they play there, they are quality players. “I just go out wide and I try to play short passes and give them the ball, and they try to find me as well. It worked with Martinelli and I am very happy.” Mikel Arteta’s side return to domestic action when they welcome Premier League bottom club Sheffield United to the Emirates Stadium on Saturday afternoon. The Gunners are unbeaten in their opening nine league games of the campaign and Jesus could yet be involved despite limping off late on in Spain. “I felt something. Let’s see,” he said. “I did some tests with the physio, it looks not that big, but let’s see. I have a scan, maybe tomorrow. I’m pretty sure it will be nothing.” Read More Sale condemn ‘disgusting abuse’ aimed at Tom Curry and his family Leigh Halfpenny announces international retirement after 101 caps for Wales Sean Dyche and Seamus Coleman pay tribute to Everton chairman Bill Kenwright Moeen Ali: Sri Lanka coach Chris Silverwood will be fired up to face England Having ‘hero’ in opponent’s corner could unsettle Tyson Fury – Carl Frampton Denver Nuggets open NBA season with 119-107 win over Los Angeles Lakers
2023-10-25 19:00
Nigerian Central Bank Is Losing a Battle to Close Naira-Rate Gap
Nigerian Central Bank Is Losing a Battle to Close Naira-Rate Gap
Nigeria’s official currency exchange rate is once again widening a gap with the parallel-market rate, shrugging off a
2023-07-19 17:38
Olympic runner Oscar Pistorius up for parole Friday, 10 years after a killing that shocked the world
Olympic runner Oscar Pistorius up for parole Friday, 10 years after a killing that shocked the world
Oscar Pistorius could be granted parole on Friday after nearly 10 years in prison for killing his girlfriend
2023-11-24 08:04
Urge Overkill drummer Johnny 'Blackie Onassis' Rowan dead at 57
Urge Overkill drummer Johnny 'Blackie Onassis' Rowan dead at 57
Johnny Rowan died this week at the age of 57, with no cause of death known at this time.
2023-06-15 17:00
Agnetha Faltskog was 'suspicious' of ABBA Voyage show
Agnetha Faltskog was 'suspicious' of ABBA Voyage show
ABBA star Agnetha Faltskog has admitted she was 'suspicious' of the band's ambitious virtual concert residency which features avatars of the group members performing their hits
2023-10-13 15:00
All Assault Rifles Nerfed in Apex Legends Season 16
All Assault Rifles Nerfed in Apex Legends Season 16
A lot of changes are set to arrive in Apex Legends' upcoming Season 16: Revelry, including a number of buffs and nerfs.
1970-01-01 08:00