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Paradatec Announces OneDay Blind Test for Mortgage Files

first_img in Featured, Headlines, Technology Paradatec Announces One-Day Blind Test for Mortgage Files Share Paradatec, a company specializing in advanced Optical Character Recognition (OCR) solutions for mortgage file processing has announced its One-Day Blind Test Challenge Monday at the Mortgage Banker Association’s Convention Expo in Denver. The mortgage OCR library identifies nearly 500 document types typically found in a mortgage file, as well as extracting over 6,000 data fields from said documents. This works in tandem with Paradatec’s sub-second OCR processing engine.“Many of our prospects have been disappointed in the results of past OCR initiatives, so they’re understandably cautious. Our One-Day Blind Test Challenge lets them run samples of their loans through our solution to validate our out-of-the-box performance claims. The Challenge will be conducted on-site rather than at our facilities, due in part to the confidential nature of the content, but to also minimize concerns about our skewing any results behind the scenes,” said Neil Fraser, Paradatec’s Director of US Operations.The Blind Test Challenge takes the provided loan files and indexes them by document type. One hundred data fields are extracted from various key documents, including the Note, Deed of Trust, Closing Disclosure, Appraisal, and W-2, and a bookmarked PDF is created from the produced loan. According to Fraser, other companies make great claims about their “out-of-the-box” mortgage specific functionality, but those interested in OCR automation are disappointed when they find out the functionality is limited.  “The typical experience found with other products is something less impressive.  We believe ours is the most expansive OCR offering available, such that we’ll gladly test it on a blind set of loans to show a prospect what makes Paradatec different.”The full release from Paradtec can be found here.center_img loan mortgage solution Neil Fraser OCR automation Paradatec 2017-10-23 Dean Terrell October 23, 2017 685 Views last_img read more

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THE AIRPLANE You could forgive Joel Embiid for enj

first_imgTHE AIRPLANEYou could forgive Joel Embiid for enjoying the moment. The star Philadelphia 76ers overcame injuries and a rogue digestive system to drop 33 points on the Raptors in Game 3 of this season’s conference semifinal between the teams. Embiid engaged in all manner of celebrations throughout his big game, including spreading his arms and running around like an airplane in flight. When Embiid came back down to Earth and the Sixers dropped Game 5 in Toronto, Drake mocked Embiid with  an airplane celebration of his own. Embiid took the ribbing in stride, telling Drake “I’ll be back for Game 7.” TORONTO — With his team pulling away in the fourth quarter of a pivotal playoff contest, Nick Nurse was standing by the broadcasters’ table and applauding the previously struggling Raptors bench players that had given Toronto a 99-82 lead in Game 4 of its NBA Eastern Conference final against the Milwaukee Bucks.That’s when rap superstar and Raptors superfan Drake left his courtside seat to give the Toronto coach a quick shoulder massage.Nurse tried hard to act like he hadn’t noticed. However, it seems like everyone else watching the game did, and of course social media debates were waged. Did Drake cross a boundary with his act of bonhomie, or were his actions an acceptable part of the NBA’s celebrity-driven culture?The move was in blatant disregard of the NBA’s fan conduct policy, which the Raptors faithful at Scotiabank Arena are lectured on via a jumbotron video several times per game.But Drake is no ordinary fan. Love him or loathe him, he’s an entertainment icon who has used his celebrity to put his hometown on the map. The Raptors, desperate to harness his star power, even made up a job for him back in 2013, granting him the ceremonial title of “global ambassador.”What comes with that vague position? One one hand, he has lent his powerful OVO brand to the team, with his signature black-and-gold colour scheme decorating one of the team’s alternate jerseys — as well as the Scotiabank Arena court during the Raptors’ “Drake Night” promotions — and his owl logo adorning the team’s practice facility. On the other, it seems to involve trolling opposing players, hollering at referees and acting as a part-time masseur.Drake seems to be even more animated in these playoffs, on his feet for most games and taking direct aim at the opposition’s superstars with mocking gestures.Other teams have celebrity fans — the Los Angeles Lakers are the beloved team of actor Jack Nicholson while director Spike Lee has lived and died with the mercurial New York Knicks — but none seem as polarizing as Drake. Whether his courtside actions are innocuous or obnoxious, they are always a talking point.A few playoff highlights include: Ambassador or distraction: Raptors superfan Drake walks a thin line THE LINT ROLLEREven if Drake’s courtside attire at Raptors games often channels high-school gym teacher rather than entertainment icon, he commits to his look. And apparently, that means no lint. While not one of his more demonstrable antics, cameras caught Drake using a lint roller on his pants during Game 2 of Toronto’s first-round series with Brooklyn in the 2013-14 playoffs. The clip went viral, and the team gave away Drake branded lint rollers before Game 5. One of the lint rollers was famously sold on eBay for over $55,000 in 2014.  AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Emailcenter_img by Curtis Withers, The Canadian Press Posted May 22, 2019 11:15 am PDT THE CLEVELAND CONFRONTATIONGame 1 of the 2017-18 Eastern Conference semifinals was a dark time for the Raptors. The team has just lost their series opener in overtime to bete noire LeBron James and his Cleveland Cavaliers despite leading for much of the game. An agitated Drake had a heated confrontation with Cavaliers centre Kendrick Perkins after the game which included plenty of colourful language from both parties. The NBA reportedly warned Drake to tone down his antics after the incident. GOING AT THE GREEK FREAKBefore this East final, Milwaukee radio station 103.7 KISS-FM invoked a moratorium on playing Drake’s hits, calling the rapper a “big smack-talker on the basketball court.” And so far Drake has not disappointed. When Bucks behemoth Giannis Antetokounmpo fouled out in overtime of Game 3 after being shut down by Raptors superstar Kawhi Leonard, Drake waved a sarcastic goodbye to the MVP candidate as he left the court. Drake was even more animated in Game 4, laughing as Antetokounmpo bricked a free-throw attempt and punctuating his mirth with an exaggerated windmill motion with his arm.Curtis Withers, The Canadian Presslast_img read more

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At least 60000 Cypriots suffer from rare diseases

first_imgAt least 60,000 Cypriots suffer from a rare disease President of the Rare Diseases Alliance Androulla Eleftheriou said on the occasion of an awareness event marking Rare Disease Day on Friday.House President Demetris Syllouris also marked Rare Disease Day in an address to the plenary. He spoke of the need to raise awareness and exert pressure so that every country’s health system adapts to rare disease sufferers and aim to cure them.Syllouris said that in 2018 Rare Disease Day is dedicated to the importance of access to holistic care services and to the value of research and exchange of knowledge and resources between EU member states aiming to improve patients’ health and quality of life.During the awareness event, which took place in Nicosia, Eleftheriou said that a disease is considered to be rare if it affects less than 1 in 2,000 people, adding that for the time being there are 6,000 – 8,000 different rare diseases.At least 60,000 Cypriots suffer from rare diseases, she said.In Cyprus, the National Committee on Rare Diseases has undertaken the task of overseeing the implementation of the National Strategy of Rare Diseases, she noted. Permanent Secretary of the Ministry of Health Christina Yiannaki has been appointed to head the Committee.Addressing the event, Health Minister Constantinos Ioannou said the ministry offers services for the diagnosis, treatment and prevention of several rare diseases through the specialised clinics, hospitals and scientific centres of both the public and the private sector.The ministry, Ioannou added has always supported in various ways specialisation on rare diseases.You May LikeDr. Marty ProPower Plus Supplement3 Dangerous Foods People Feed Their Dogs (Without Realizing It)Dr. Marty ProPower Plus SupplementUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoKelley Blue Book10 Electric Cars That Last the LongestKelley Blue BookUndo Concern over falling tourism numbersUndoAuthorities release five of 12 Israeli rape suspects, seven due in court FridayUndoPensioner dies after crash on Paphos-Polis roadUndoby Taboolaby Taboolalast_img read more

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Cyprus scores poorly in competitiveness digital technology

first_imgCyprus ranked 37th among 63 economies in the 2017 world competitiveness rankings compiled by IMD World Competitive Centre, a Swiss business management school.Cyprus, included in the survey for the first time, scored 73,765 points and was ranked just below Saudi Arabia which scored 74,333, Chile with 74,482, and Spain with 74,838, the IMD World Competitiveness Ranking report said. The island beat Poland, which scored 73,721, Portugal with 72,169, and Latvia with 71,846.Hong Kong topped the list with 100 points, followed by Switzerland, Singapore, and the USA, IMD said. Venezuela, the Latin American oil producer mired in economic and political chaos, was at the bottom with 23,463, below Peru, Mongolia, and Ukraine.In terms of digital competitiveness, Cyprus scored even worse, ranking 53rd among 63 other economies with 53,503 points — just below Turkey with 53,867, India with 54,367, and Greece with 54,424, IMD said.Cyprus ranked above Romania with 52,529, Brazil with 52,290, and Jordan with 21,010.The best digital performer was Singapore, followed by Sweden, the US, and Finland, while Venezuela, Peru, Mongolia, and Ukraine were again at the bottom, IMD said.Cyprus’s low digital ranking stemmed from its “very low evaluation of aspects of the technological environment and its readiness to accept future technological developments,” the University of Cyprus’s Economic Research Centre (ERC) commented on the findings in an emailed statement. “In terms of knowledge, Cyprus is ranked 46th, as it shows deficits in the area of student flow from abroad and workers’ training. On the other hand, Cyprus performs well with respect to completing higher education in general and among women”.In terms of technology, Cyprus is ranked 54th as it scored poorly in enforcing contracts and the number of broadband subscribers, the ERC said adding that Cyprus also scored badly in the use of big data and analytics.You May LikePopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoModernizeIf Your Home Has Old Roofing, Read ThisModernizeUndo Pensioner dies after crash on Paphos-Polis roadUndoCypriot tycoon launches ‘Bank of Cannabis’UndoThree arrested in connection with hotel theftsUndoby Taboolaby Taboolalast_img read more

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Little sign of urgency over plastic bag charge

first_imgA law introducing charges for plastic bags is just a few weeks away from coming into force on July 1, but environmentalists complain far too little has been done to prepare shoppers for the change.In December last year, parliament voted into law a bill that would mean plastic bags between 15 and 50 microns will be charged a minimum of 5 cents plus VAT.The law generously allowed a six-month transition period in which shops could begin charging slowly – at 2 cents per bag – but more crucially, use these six months as a period to run campaigns and inform the public.  It is now mid-June and no major campaigns have been run.According to Greens MP Charlambos Theopemptou what we should have been seeing were TV ads, signs up in shops and supermarkets, something to indicate campaigns were ongoing.The public should have been surrounded by this information he added with suggestions on alternative solutions such as cloth bags for instance.“We haven’t seen any of this and it’s concerning,” Theopemptou told the Sunday Mail.“It would be a good idea to start as the days are fast approaching,” he added.Environment department official Elena Christodoulidou said they would be launching their own campaign starting June 23 until July 8.Asked if it was leaving it too late, she stipulated that they had daily contact with stakeholders throughout the transition period but now the campaign would be more “dynamic”.“This will be a major campaign where we will prepare leaflets, have signs on the road, smart videos, hand out reusable bags,” she told the Sunday Mail.Though the law comes into effect on July 1, Christodoulou said the idea was not to begin punishing those who do not adhere to it but to encourage them to change and adapt, essentially giving them some breathing room in the coming weeks.The law allows for fines up to €3,400.One of the eternal problems when it comes to plastic bags is how often people take extra carrier bags to use for their own home.In Cyprus, the latest figures by the EU Commission are from 2012 and they reveal that the average person used 140 bags per year of which 125 were the carrier bags set to be charged for. The remaining 15 are reusable bags. Currently, the environment department is currently trying to get more up to date figures.In other countries, plastic bag use had been reduced by 50 per cent after charges were introduced, so why not in Cyprus?“I think people are quite accepting of this change, similarly to recycling.” The change came slowly but it is now very much a part of Cypriot life.“Based on what we’re seeing, the reaction is positive.”Lawmakers preparing the law ensured another two key points were enshrined in the legislation.Firstly, the cost will apply to carrier bags alone. This means the very light, flimsy plastic bags used to pack fruits and vegetables, for instance, will continue to be free of charge. Only the bags issued at the check out counter will be charged at 5 cents minimum.Additionally, the money reaped from these sales should not go towards the company’s profit but instead, a special fund aimed at further educating the public.The supermarket association said that while they were ready to begin charging, there was definitely no plan as to how this fund would work.“We had a meeting with the environment department but it was not very specific. We’ll be ready to implement when we have guidelines as to how but we don’t have this information yet,” the spokesman of the association, Andreas Hadjiadamou, told the Sunday Mail.Stefanos Koursaris, the head of small shopkeepers’ union Povek, agreed, saying his members were also not ready and though they had the goodwill to implement the law to the ‘t’ and felt this was a positive change, they’d like to be enlightened as to how it will be done.“Without wanting to belittle (the environment department) a lot more could have been done,” he said.“We still don’t know how this fund will be created, how it will work or how it will be done in a way that will be transparent.”Christodoulou insisted the government had the plan ready but officials were still fine-tuning details to ensure full transparency.Nonetheless, the fund is linked to the campaigns, she stipulated.This is because, as Theopemptou outlined, the responsibility for campaigns lay in the hands of all shops – supermarkets, retailers and any business that will be required to sell plastic bags.The idea, he said, is that they would all come together as a group and run the campaigns.Hadjiadamou, however, said he wasn’t too concerned about implementing the changes as the idea had been around for a long time. Some stores and supermarkets already charge for plastic bags and so the public is aware of it.“We believe the public will adapt to it,” he said.He suggested that the six-month period had been more for plastic manufacturers to make the necessary adjustments as the whole point of charging is to reduce plastic bag use and that means a smaller workforce.Christodoulos Papadopoulos, owner of the plastic bag production company Papadopoulos A & Sons, told the Sunday Mail they were ready to adapt to the changing law.“We know who we’re going to let go and when,” he said.At least 125 people are expected to lose their jobs, Papadopoulos said out of around 200 employees.The bulk of the company’s work is producing the carrier bags that shops will now charge for, making up approximately 75 per cent of their business, Papadopoulos added.“We expect our sales to drop anywhere from 65 to 85 per cent and the respective staff to go too.”You May LikePopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoSmart Tips DailySeniors With No Life Insurance May Get A $250,000 Policy If They Do ThisSmart Tips DailyUndo Concern over falling tourism numbersUndoPensioner dies after crash on Paphos-Polis roadUndoCypriot tycoon launches ‘Bank of Cannabis’Undoby Taboolaby Taboolalast_img read more

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Committee approves Rep Hughes bill to protect Michigan drivers from government overreach

first_img Michigan motorists could leave an unattended vehicle idling in a private driveway under legislation approved today by the House Transportation and Infrastructure Committee.State Rep. Holly Hughes introduced the legislation after a Michigan motorist was issued a $128 ticket for leaving his car unattended in a driveway while warming his vehicle.“People across our nation were rightfully outraged when they learned that someone could actually be ticketed for warming up their car on their own property,” said Hughes of Montague. “Especially in the state of Michigan where warming up a vehicle is a common practice.”House Bill 4215 moves to the full House for consideration.### 29Mar Committee approves Rep. Hughes bill to protect Michigan drivers from government overreach Categories: Hughes Newslast_img read more

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Rep Runestad named a Library Champion by Library Association

first_img Categories: Runestad News 16Jan Rep. Runestad named a “Library Champion” by Library Association State Rep. Jim Runestad received the “Library Champion” award from the Michigan Library Association on Jan. 11.“It’s a great honor to receive this award from the Michigan Library Association,” Rep. Runestad said. “Libraries serve a vital role in our local communities and I will keep fighting for their continued support and funding.”The Michigan Library Association awards state legislators on an annual basis, recognizing their involvement and commitment to local libraries. Rep. Runestad was honored as a 2016 “Library Champion” for his leadership in promoting legislation that invests in Michigan libraries and ensures their availability for future residents.last_img read more

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Rep Hank Vaupel Weekly Column March 26 2018

first_img27Mar Rep. Hank Vaupel Weekly Column: March 26, 2018 Categories: Vaupel News I attended several events throughout the district this week. The Livingston County Human Services Collaborative Body (HSCB) held its annual meeting during which the subcommittees reported on the past year. The HSCB is designed to support health and human services in our area.  It was great to hear the many success stories from the subcommittees. Thank you to all involved who work so hard to meet the needs of individuals throughout the county!I also met with personnel from several local law enforcement offices to discuss school safety. We talked about best practices for our schools and ways to uphold public safety in general. It was an honor to discuss such important issues with these hard-working and committed men and women.On Saturday, St. John’s Lutheran Church in Fowlerville joined with the Fowlerville High School Band to host a Macaroni and Music dinner to benefit the Love INC Personal Needs Pantry and the band. It was a fun time, and I was happy to be able to support such a great cause. Later that day, I went to the Fowlerville Community Theater murder mystery performance. Job well done to our great local performers!***I welcomed several representatives from the city of Howell to the Capitol on Wednesday as part of the Municipal League legislative day. It was a pleasure to meet with them and discuss issues important to local governments throughout our community.***I am proud to recognize the students from Hartland and Howell high schools and the Charyl Stockwell Academy who participated in the robotics competition in Milford. They did an excellent job representing their schools and the local area. Congratulations on all your accomplishments!***This week, I finished my March is Reading Month tour by reading to elementary students at St. Joseph Catholic School in Howell and Kreeger Elementary School in Fowlerville. In total, I visited 30 classes from around the district. Thank you to all the dedicated teachers and school staff for welcoming me into their schools to encourage students to read. I am always grateful for the terrific school personnel throughout our county.***Last week was National Agriculture Week. There are over 51,000 farms throughout the state with 93percent owned by families or individuals. This results in almost one million agricultural jobs and an average of $101 billion in yearly economic activity. Thank you to all of the hard-working people involved in agriculture throughout Livingston County and all of Michigan!***For many students, spring break is right around the corner! This is a great chance to enjoy the recreational activities our community has to offer. I wish everyone an enjoyable and safe break. During this time, please be extra cautious for children playing near roads to ensure safety for all.***If you have any ideas, comments or questions for my office, please do not hesitate to call us at 517-373-8835 or send an email to HankVaupel@house.mi.gov. We are happy to hear from you!last_img read more

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Rep Chatfield statement on Line 5 tunnel under Straits of Mackinac

first_img03Oct Rep. Chatfield statement on Line 5 tunnel under Straits of Mackinac Categories: Chatfield News State Rep. Lee Chatfield, of Levering, issued the following statement today after Enbridge committed to replacing the portion of Line 5 that crosses beneath the Straits of Mackinac with a new pipeline inside a protective tunnel:“While the transportation of energy resources is essential to our daily lives, it’s important we continue to seek the safest methods possible. Constructing a tunnel under the Straits is a proactive solution that better protects the Great Lakes from the threat of a spill while still ensuring northern Michigan families have access to the resources they need to heat their homes and run their businesses.“This announcement builds upon the safety measures the House is considering this week as part of my comprehensive action plan to strengthen safety standards for the existing infrastructure lines that connect our two peninsulas.“The Great Lakes and our inland waterways are critical to the northern Michigan way of life. This is the water we drink, fish and swim in with our families. It’s the reason tourists from throughout the country travel to Pure Michigan each year to spend money at local shops, hotels and restaurants. It’s our most precious natural resource, and we have a duty to protect it.”###last_img read more

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Rep Mueller welcomes local church group to Lansing

first_imgPHOTO INFORMATION: State Rep. Mike Mueller of Linden welcomed Senior Pastor Chris Yager (right front) and members of Cornerstone Baptist Church in Swartz Creek to his Lansing office on Tuesday. The group met with the representative to pray and offer words of encouragement. The meeting was part of 121 Capitol Connection, an effort by pastors and church members across the state to connect with their legislators. Categories: Mueller News 30Apr Rep. Mueller welcomes local church group to Lansinglast_img

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Trump Deal to Planned Parenthood Stop Offering Abortion Services and Keep Federal

first_imgShare61TweetShare6Email67 Shares“Planned Parenthood in St. Paul” By Fibonacci Blue (Flickr: Planned Parenthood in St. Paul) [CC BY 2.0], via Wikimedia CommonsMarch 7, 2017; ABC NewsIn a not-so-subtle political play, President Trump offered a deal to Planned Parenthood on Monday, following the release of details of the ACA replacement proposal that would defund the organization if it passed. The deal was, if Planned Parenthood would stop performing abortion services, the nonprofit could maintain its federal funding.It is important to note that due to the Hyde Amendment, no federal funds can be used to pay for abortions. Republicans argue that federal funds going to Planned Parenthood for other services, such as cancer screenings, birth control, sexually transmitted disease screenings, and more, free up the clinic’s unrestricted dollars to be used for abortions. However, the clinic indicates that patients—or, if they have a policy that allows it, private insurance—pay for abortion procedures. Thus, federal funds do not even get used for abortion services indirectly.Cecile Richards, president of Planned Parenthood, says, “It’s important to understand that Planned Parenthood works like every hospital, every health care provider in this country. We get reimbursed for preventative health care, period, end of story.”What it really means to “defund” Planned Parenthood is that Medicaid would prevent its patients from going to Planned Parenthood (or, technically, any other organization receiving more than $350 million in Medicaid funding, should there be one), blocking women, and low-income women in particular, from access to reproductive health care. According to the Government Accountability Office, if Planned Parenthood is indeed defunded, 390,000 women would have no access to preventative care and access would be reduced for 650,000 within one year.Given these numbers, President Trump’s political agenda becomes clear. Trump does not want to be the bad guy who denies millions of patients access to life-saving reproductive healthcare. At the same time, he does not want to lose favor among his own party by standing up for Planned Parenthood, although he has indicated on multiple occasions that he recognizes the work they do is important. By proposing the idea to Planned Parenthood, Trump passes blame from his administration to Planned Parenthood, since they attempted to be reasonable but Planned Parenthood rejected their generous offer.What President Trump may fail to realize is that his offer calls on Planned Parenthood to change its mission and core values. In the nonprofit world, this is known as “mission drift,” wherein organizations change their mission to chase funding, and it is incontestably frowned upon. Planned Parenthood essentially had no choice but to reject the proposal, so the president’s deal was not truly a good-faith effort to help the clinic and its patients.In a statement regarding the matter, Richards indicated that Planned Parenthood would not back down and would continue its commitment to providing the full scope of women’s health services. Dawn Laguens, executive vice president of Planned Parenthood, offered a passionate response to Trump’s proposal that echoed Richard’s statement: “Offering money to Planned Parenthood to abandon our patients and our values is not a deal that we will ever accept. Providing critical health care services for millions of American women is non-negotiable.”— Sheela NimishakaviShare61TweetShare6Email67 Shareslast_img read more

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Interactive TV games specialist PlayJam has closed

first_imgInteractive TV games specialist PlayJam has closed a US$5 million (€3.6 million) series A funding round with backing from GameStop Digital Ventures, Adobe Ventures, Endeavour Ventures and London Venture Partners.PlayJam, which provides its games platform via connected TV companies including Samsung, LG, Panasonic and Sony, is planning to aggregate Adobe Flash-based 2D and 3D games for TVs from a range of game developers for distribution via its games network. The company recently announced content partnerships with brands including Slingo, Puzzler and Relentless, the company behind the Buzz franchise.PlayJam plans to launch a software developers kit in the second quarter of next year, which will enable integration of features including billing, leader-boards, tournaments and integration with third party social networks.last_img read more

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French pay TV group Canal has finalised a deal to

first_imgFrench pay TV group Canal+ has finalised a deal to acquire the digital terrestrial channels Direct 8 and Direct Star owned by the Bolloré Group.The technical details of the initial agreement have been slightly modified since it was first mooted, with Bolloré giving Canal+ two options for the full acquisition of its television business. It can either buy 60% of the business for 16.2 million shares in Canal Plus parent company Vivendi with an option to acquire the remainder within three years for €279 million or take 100% in one transaction in return for 22.4 million Vivendi shares.Bolloré must retain the Vivendi shares for at least six months under either scenario.The still needs approval from the French communications regulator the CSA and the national Competition Authority.last_img

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Pan European broadcast group RTL is exiting Greece

first_imgPan European broadcast group RTL is exiting Greece after agreeing to sell its stake in Greek broadcaster Alpha Media Group. RTL is selling its 70% stake in the company to Greek entrepreneur Dimitris Contominas, who currently owns the remaining 30% share.The transaction is subject to approval by the Greek Competition Commission and is expected to close in the first quarter of the year. Alpha Media Group operates Greek commercial network Alpha TV and in-house production arm Plus Productions.Gerhard Zeiler, CEO of RTL Group, said: “Given the heavy and on-going economic and financial crisis in Greece, we have eventually decided to exit the Greek market. While we cannot influence the overall market development, our local management team led by CEO Christoph Mainusch, together with Alpha’s employees, succeeded in increasing the channel’s ratings and cutting programme costs at the same time – both to a substantial extent. We are happy to have found a solution that enables Alpha to continue broadcasting. We wish Alpha, its employees and our business partner Dimitris Contominas truly all the best for the future – and thank them for their outstanding contributions and their commitment in very difficult times.”last_img read more

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Russian thematic channel Eda Food is now availab

first_imgRussian thematic channel Eda (Food) is now available on cable service provider Akado’s platform.Food is available as part of Akado’s Mix packages. The 24-hour channel offers a variety of prgrammes about food and cooking. An HD version will also be aired by Akado, taking its total number of HD channels to 17.last_img

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Ericsson is reportedly in discussions to buy Micro

first_imgEricsson is reportedly in discussions to buy Microsoft’s TV software unit.According to a Bloomberg report, which cites unnamed sources, the negotiations are for Microsoft’s MediaRoom IPTV business, which makes software for delivering TV over the web.The report claimed a deal could be announced in the coming weeks.The news came as Ericsson concluded its Swedish staff cuts. The firm, which first told its staff about the changes in November, has reduced its operations by 1,399 positions.last_img

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A report in the Romanian press claims Discovery Co

first_imgA report in the Romanian press claims Discovery Communications’s spending spree could be set to continue with the acquisition of free-TV broadcaster Prima TV.The Romanian channel group is said to be on the block and local news site evz.ro reported that Discovery was among those interested in buying it from current parent SBS Broadcasting. No price on a deal was given.The report cited sources who wished to remain anonymous and also noted Swiss cable operator RCS & RDS and Antenna Group had also kicked Prima’s tires.Discovery has been busy buying up channels in Europe in the past few years, notably acquiring the SBS business in Scandinavia for US$1.7 billion (€1.25 billion) to launch SBS Discovery Media earlier this year.It also paid €170 million to buy into TF1 channels Eurosport, Histoire, TV Breizh, Ushuaïa TV and Stylia and last week indicated it was planning to speed up plans to take a controlling stake in Eurosport.Others deal saw it pay an undisclosed amount for Egypt-based Takhayal Entertainment, which operates Middle Eastern food network Fatafeat and take a 20% stake in French pay TV firm Televista.last_img read more

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Orange has made a €34 billion cash offer to buy 1

first_imgOrange has made a €3.4 billion cash offer to buy 100% of Spanish telco Jazztel, in an effort to establish itself as the second biggest fixed-line broadband operator in Spain. Orange said the deal would allow it to accelerate its growth in a highly-competitive market and help it to move its customers towards convergent offers.The €13 per-share offer marks a 34% premium on Jazztel’s average closing shareprice over the past 30 days and values Jazztel at €3.4 billion.The offer is conditional on the approval of 50.01% of Jazztel’s capital shareholders and has already won the approval of 14.5% capital shareholder Leopoldo Fernandez Pujals and has the backing of CEO José Miguel Garcia Fernandez and general secretary José Ortiz Martinez.The takeover will also be subject to approval by the Spanish Securities Commission and the UK Takeover Panel on Takeovers and Mergers in the UK.last_img read more

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The number of digital TV households in Latin Ameri

first_imgThe number of digital TV households in Latin America is due to approximately double by 2020, despite slowing economic growth, according to new research by Digital TV Research. The new forecast predicts that the number of digital TV homes in the region will climb from 77 million in 2014 to 152 million in 2020, with digital TV penetration of TV households rising over the same time period from just over half to 93.6%.According to the study, nearly 10 million satellite pay TV households, 18.2 million digital cable subscribers and 5.5 million IPTV subscribers will be added between 2014 and 2020.At the same time the number of analogue cable subscribers is tipped to fall from 18.0 million to 4.3 million.Pay TV revenues in Latin America will grow by US$2.6 billion (€2.5 billion) between 2014 and 2020, according to Digital TV Research.last_img read more

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TVs by LG Sony and Roku will be the first to carr

first_imgTVs by LG, Sony and Roku will be the first to carry the ‘Netflix Recommended TV’ logo in North America, the subscription video-on-demand giant has revealed. Netflix first announced its US-based Netflix Recommended TV program at the Consumer Electronics Show in Las Vegas in January, with the scheme designed to highlight sets that offer a “superior internet TV experience.”The first set of TV to gain Netflix’s stamp of approval are LG 4K Ultra HD TVs with webOS 2.0, Sony Android HDTVs and Roku TVs manufactured by Hisense, Insignia, and TCL – with more models and manufacturers to be added in the coming months.“We’re particularly excited about the ‘Instant On’ functionality supported by Roku TVs and the Sony Android Full HDTVs. These TVs wake up quickly, remembering where you left off, similar to how smartphones and tablets behave today,” said Netflix director of product development, Brady Gunderson, and director of business development, David Holland, in a company blog post.“These Sony and Roku TVs are also capable of turning on and launching Netflix with the press of a single button, making getting to Netflix faster than ever before. The LG 4K UHD TVs with webOS 2.0 have made special optimisations to make streaming services like Netflix launch much faster, and all of these devices offer improved user interfaces, allowing you to move seamlessly between live TV and internet TV services.”The news comes a week after Netflix announced that Panasonic, Philips, Sony, Toshiba and Vestel will begin marketing devices with dedicated Netflix buttons on their remote controls in Europe from this month.last_img read more

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