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    TV-gadget maker Roku’s stock soars after IPO raises $219M

    By SHOOTUpdated:No Comments1726 Views
    In this May 19, 2014, file photo, Roku CEO Anthony Wood poses for a portrait, in Saratoga, Calif. (AP Photo/Marcio Jose Sanchez, File)

    By Tali Arbel, Technology Writer

    NEW YORK (AP) --

    Shares of Roku, an early player in streaming-video gadgets, soared Thursday after its initial public offering of stock raised $219 million.

    The shares priced at $14 each, the top of the company's expected range, suggesting strong demand from investors and valuing the company at $1.3 billion. The shares rocketed almost 68 percent Thursday, closing the day at their peak of $23.50.

    The Los Gatos, California, company is known for its boxes and sticks that let users watch Netflix, Hulu and the growing universe of streaming-video options on their TVs. It has the biggest share of the streaming-gadget market, but has deep-pocketed competitors in Amazon, Google and Apple.

    Most of Roku's revenue comes from sales of its streaming players, but it's seeking to capitalize on its "platform" by building its business of showing ads to users, whether on its home screen or inside video apps.

    The company is unprofitable and has amassed $244 million in losses since it was founded in 2002.

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    Kevin Costner to receive MPSE Filmmaker Award; Greg Hedgepath named recipient of MPSE Career Achievement honor

    Thursday, November 21, 2024
    Kevin Costner (photo courtesy of Kevin Costner)

    Motion Picture Sound Editors (MPSE) will present Oscar®-winning filmmaker and actor Kevin Costner with the 2025 MPSE Filmmaker Award, bestowed annually to a filmmaker of distinction. And supervising sound editor Greg Hedgepath will receive the Career Achievement Award for his prolific career in sound editing. Both awards will be presented during MPSE’s 72nd Annual Golden Reel Awards Gala on February 23, 2025 at the Ebell Theatre in Los Angeles.

    The MPSE Filmmaker Award is bestowed upon an individual outside the sound community whose career has demonstrated a great appreciation and understanding of the impact of sound editing. The MPSE Career Achievement Award is presented to a person whose career has made a significant impact on the sound community through exemplary work, service or leadership.

    “Kevin Costner has captivated audiences with his powerful storytelling throughout his illustrious career,” said MPSE president David Barber. “From epic Westerns to poignant dramas, his use of sound as an integral component of his cinematic storytelling has stirred our emotions and immersed viewers in the worlds he’s created for decades. This passion for sound is abundantly clear in his latest ambitious project, the Horizon saga. We are thrilled to honor him with the Filmmaker Award, recognizing his exceptional contributions to the art of storytelling through sound in film and television.”

    Barber added, “Greg Hedgepath is a true titan in the world of sound. His contributions to cinema are immense, spanning decades and encompassing a remarkable range of genres. From the heart-pounding intensity of ‘Speed’ and ‘Twister’ to the nuanced drama of ‘Selma’ and ‘Straight Outta Compton’, Greg’s work has consistently elevated... Read More

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