Village Roadshow's $417.5 Million Stalking Horse Deal Approved
Judge Thomas M. Horan approved the bankrupt company's stalking horse deal with Alcon, which will set a price for Village Roadshow's film library, according to a filing Tuesday. Alcon bested an earlier offer from Los Angeles-based investment firm Content Partners, though Content could still bid on the film library.
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Axios
20 minutes ago
- Axios
Lime launches seated scooters in SF
The next time you spot a Lime scooter, it might look a little different. The big picture: The San Francisco-based micromobility company rolled out its new LimeGlider seated scooter here Friday — a hybrid between a traditional scooter and an e-bike that allows riders to " simply get on and go," according to Lime. Zoom in: San Francisco is among the first cities to deploy the hybrid, which replaces pedals with foot rests and is designed to achieve a lower center of gravity for improved stability. It also includes ergonomic hand grips and wider front baskets. These features were incorporated to accommodate groups traditionally underrepresented in Lime's ridership, such as women and seniors. State of play: Lime deployed a fleet of 250 Gliders throughout the city. This new set of wheels will offer "even more accessible options for people with disabilities, seniors and other people who may not feel comfortable or safe on standing scooters," Julie Kirschbaum, SFMTA director of transportation, said in a press release. The company is working in tandem with the city's efforts to prioritize sustainability and invest in infrastructure like protected bike lanes, added Hayden Harvey, Lime's director of government relations.
Los Angeles Times
20 minutes ago
- Los Angeles Times
El Segundo-based NEOGOV Acquired by EQT and CPP Investments in $3-Billion Transaction
EQT, together with Canada Pension Plan Investment Board, agreed to acquire El Segundo-based software and compliance firm NEOGOV in a deal that values the company at more than $3 billion, including debt. The company was founded in 2000 and operated as a portfolio company from funds managed by Warburg Pincus and Carlyle. NEOGOV is focused on human capital management and public safety solutions. The company's cloud-native suite of products is used by nearly 10,000 public sector organizations across North America. It supports the full employee lifecycle from recruitment and onboarding to performance management and compliance management. 'Local governments are the backbone of our communities. Our mission is to help them operate more efficiently and serve citizens more effectively. EQT and CPP Investments share our vision and bring the experience and capital to help us scale faster,' said Shane Evangelist, chief executive of NEOGOV, in a statement. 'Our priorities include advancing product innovation and AI capabilities to help public sector agencies drive increased efficiency and compliance adherence. EQT and CPP Investments' deep expertise in software and broad network of advisors will be instrumental to supporting our growth.' As part of the transaction, CPP Investments will contribute $700 million and become a significant minority shareholder. 'NEOGOV is a leading software platform with distinct customer offerings that is poised for growth due to increasing demand from its customers across North America,' said Sam Blaichman, managing director, head of direct private equity for CPP Investments, in a statement. The transaction is subject to customary conditions and approvals and is slated for completion in the coming months. Moelis & Company LLC served as financial advisor, and Willkie Farr & Gallagher served as legal counsel to NEOGOV. Jefferies LLC served as financial advisor, and Ropes & Gray served as legal counsel to EQT. Information for this article was sourced from EQT.
Newsweek
21 minutes ago
- Newsweek
Us to Take Cut of AI Chip Sales to China. Security Risk or Easy Money?
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Trump administration has cleared semiconductor giants Nvidia and Advanced Micro Devices (AMD) to resume sales of certain artificial intelligence chips to China — on the condition that the U.S. government receives 15 percent of the revenue from those sales. The unusually structured deal followed a White House meeting last week between Nvidia CEO Jensen Huang and President Donald Trump. Licenses were issued two days later. "We follow rules the U.S. government sets for our participation in worldwide markets," Nvidia said in a statement, adding that it hoped the policy "will let America compete in China and worldwide." AMD did not immediately respond to Newsweek for a request for comment. Under the agreement, confirmed by officials and company statements, Nvidia's H20 and AMD's MI308 processors — less powerful versions of their top AI processors — will be licensed for sale in China. From Ban to Revenue-Sharing In April, the Trump administration extended Biden-era export controls to block even these downgraded chips. Those rules built on 2022 restrictions designed to prevent exports of high-performance processors that U.S. officials feared China could use to aid its military. By June, Trump signaled a policy shift was coming after meeting with Huang. The administration announced in July that sales could resume, but licenses were only granted once the 15 percent payment condition was in place, the Financial Times first reported. U.S. President Donald Trump shakes hands with Nvidia CEO Jensen Huang after Huang delivered remarks in the Cross Hall of the White House during an event on "Investing in America" on April 30, 2025 in... U.S. President Donald Trump shakes hands with Nvidia CEO Jensen Huang after Huang delivered remarks in the Cross Hall of the White House during an event on "Investing in America" on April 30, 2025 in Washington, DC. More Photo by"This is unprecedented," Deborah Elms, a Singapore-based trade policy expert, told the BBC. No American company had ever been required to hand over a share of revenue to secure an export license. Analysts at Bernstein Research estimate Nvidia could sell about 1.5 million H20 chips in China this year, bringing in some $23 billion in revenue. A 15 percent cut could yield the U.S. government more than $3 billion. Security or Strategy Some U.S. lawmakers and security officials warn that even limited AI chips could strengthen China's military and surveillance capabilities. "Beijing must be gloating to see Washington turn export licences into revenue streams," said Liza Tobin, a former National Security Council China director, in comments to the Financial Times. Representative Raja Krishnamoorthi, the top Democrat on a House panel focusing on competition with China, also raised concerns over the reported agreement, calling it "a dangerous misuse of export controls that undermines our national security." "Chip export controls aren't bargaining chips, and they're not casino chips either. We shouldn't be gambling with our national security to raise revenue," he told the Associated Press. A NVIDIA chip is displayed at the NVIDIA booth during the China International Supply Chain Expo (CISCE) in Beijing on July 16, 2025. A NVIDIA chip is displayed at the NVIDIA booth during the China International Supply Chain Expo (CISCE) in Beijing on July 16, 2025. Jade Gao/AFP via Getty Images Nvidia disputes that the H20 poses military risks and denies Chinese state media claims that its chips contain "backdoors" or "kill switches." Commerce Secretary Howard Lutnick said the chip licenses are linked to talks with Beijing over rare-earth minerals, a sector dominated by China. The deal also comes as a U.S.-China trade truce that reduced triple-digit tariffs nears expiration. In some ways, the structure of the deal resembles Trump's June approval of Nippon Steel's purchase of U.S. Steel, which gave the U.S. government a "golden share" in the company. In both cases, corporate approvals were tied to financial returns for Washington. A Precedent in Question Yet critics say the move risks turning export controls from a security tool into a revenue generator. "Turning export controls into a 15 percent revenue tax changes their purpose," one former U.S. security official told the Times. Some warn it sets up "pay-to-play" licensing and may raise constitutional questions, since the Constitution bars taxes on exports. The administration calls the 15 percent payment a licensing condition, not a tax. For Nvidia and AMD, the agreement reopens access to a market projected to spend $100 billion on AI this year — but with lower profit margins and heightened political scrutiny. For Beijing, it could mean renewed access to technology it needs without having to invest in building out that tech domestically. As one trade adviser told the BBC: "The message this sends is that national security has a price — and in this case, it's 15 percent."
