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    Video game expo E3 gets permanently canceled

    By SHOOTUpdated:No Comments945 Views
    People watch a PlayStation VR demo at the 24th Electronic Entertainment Expo E3 on June 14, 2018 in Los Angeles. The Electronic Entertainment Expo, known as E3, which had been held annually in Los Angeles since 1995, has been shut down permanently. (AP Photo/Damian Dovarganes, File)
    LOS ANGELES (AP) --

    One of the highest-profile video game conventions is being shut down permanently, its organizers said Tuesday.

    The Electronic Entertainment Expo, known as E3, had been held annually in Los Angeles since 1995 and was a popular spot for game companies to tease their latest creations before they hit store shelves.

    The event hosted by a trade group, the Entertainment Software Association, had already been on hiatus since the COVID-19 pandemic forced its cancellation in June 2020. But E3 was facing trouble before the pandemic, with a host of companies either skipping the fair or staging their own events nearby.

    It held a virtual-only event in 2021 and planned a comeback this year that was canceled after reports that industry giants Microsoft, Sony and Nintendo would not attend.

    "After more than two decades of serving as a central showcase for the U.S. and global video game industry, ESA has decided to end E3," the ESA said Tuesday in an emailed statement. The group said its focus going forward will be to support member companies and the industry's workforce.

    Tags:E3Electronic Entertainment ExpoEntertainment Software Association



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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