Short Selling
04 January 2019
Nexon founder hints at plan to sell his $9B majority share in gaming giant
The founder of Korea’s Nexon, one of the biggest gaming companies on the planet, today appeared to acknowledge his intention to sell his controlling interest for around $9 billion.
The divestment has been a hot rumor after a report from newspaper Korea Economic Daily this week [via Reuters] suggested that Jung-Ju Kim, who founded Nexon back in 1989, is moving to sell nearly all of his holdings in the firm, which is listed on the Tokyo stock exchange. Kim, the paper claimed, is tired of the ups and downs of the industry and, fresh from overturning a bribery charge last year, is ready to channel his energies into new areas.
In a statement released today, Kim said he is “contemplating various ways to back up Nexon in becoming a more globally competitive firm” while also assessing “new challenges, without growing complacent.” More information will be announced soon, Kim added.
Nexon provided TechCrunch with a copy of the statement in Korean — you can read it on Google Translate here — while the company also issued a relative no comment of its own.
There have been several media reports in connection with a potential transaction by NEXON
Co., Ltd. (“NEXON”)’s major shareholder, NXC Corporation (“NXC”), or its shareholders.None of these reports are based on any releases made by NEXON.
While it may be true that NXC or its shareholders are considering various options about their
asset management/transactions, nothing has been decided.If a decision is made by NXC or any other relevant parties, NEXON will make a release or
disclosure in a timely manner.
Nexon went public in Tokyo in 2011 raising over $1 billion in the year’s biggest listing. Kim’s holdings, which he shares with his wife, are in NXC, which is the biggest backer of Nexon.
Already, games giants Tencent and EA have been linked with a bid for the shareholding. Korean media reports suggest that Deutsche Bank and Morgan Stanley have been enlisted to manage the sale.
Nexon specializes in free-to-play games. Initially, its focus was on the PC but it has extended its reach into mobile in recent years. Some of its most popular titles include Maplestory, Vindictus and Dungeon and Fighter.
In its most recent financial report in November, Nexon made a net profit of 22.3 billion JPY ($206.5 million) on total revenue of 69.3 billion JPY ($641.7 million), that was up 14 percent and 15 percent year-on-year, respectively. Korea is the company’s biggest market by revenue, followed by North America, Japan and China.
The company is also active in areas outside of gaming, including crypto where its subsidiaries have made acquisitions, and it is an investor, too. Its most recent deal was an uncharacteristic early investment in Embark Studios, an ambitious new gaming venture from former EA executive Patrick Söderlund.
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Qualcomm patent dispute forces Apple to pull iPhone 7 and 8 from its stores in Germany
In more bad news for Apple, the company’s iPhone 7 and iPhone 8 models are not currently on sale in its own retail stores in Germany.
This follows an injunction issued by a Munich court last month related to patent litigation brought by chipmaker Qualcomm that’s being enforced from today. The patent dispute concerns smartphone power management technology that’s used to extend battery life.
In December the Munich court sided with Qualcomm, finding that Apple is infringing its patented power savings technology in the two models — granting a permanent injunction.
The court ordered Apple to cease the sale, offer for sale and importation for sale in Germany of infringing iPhones.
Apple has said it will appeal.
The Apple Germany website currently offers the newest models of the iPhone, the XS, XS Max and XR; and older models from 2014 (iPhone 6 and 6 Plus); 2015 (iPhone 6S and 6S Plus); and 2016 (iPhone SE). But buyers looking for 2016’s iPhone 7 or 2017’s iPhone 8 will be disappointed.
Yesterday Qualcomm announced it had posted security bonds totalling €1.34BN required by the court, enabling the injunction issued by the District Court of Munich on December 20 to be enforced.
The bonds are required to cover potential damages incurred by Apple should the judgment be overturned or amended on appeal. Qualcomm had said on December 20 that it would post the bonds “within a few days”.
In a statement yesterday the chipmaker also claimed the court had ordered Apple to recall infringing iPhones from third party resellers in the market.
But at the time of writing the iPhone 7 and iPhone 8 models are still being offered by Apple resellers in Germany.
Amazon.de currently offers both handsets, for instance. While Gravis, Germany’s biggest reseller of Apple products, also told Reuters it was still selling all Apple products including the two models.
Qualcomm has also been pursing patent litigation against Apple in China and the U.S., and last month Apple appealed against a preliminary injunction banning the import and sales of old iPhone models in that market.
In that case the patents relate to editing photos and managing apps on smartphone touchscreens.
While, in the US, Qualcomm has most recently accused Intel engineers working with Apple of stealing trade secrets.
The feud dates back further though. Two years ago the FTC filed charges against Qualcomm accusing it of anticompetitive tactics in an attempt to maintain a monopoly in its chip business — with Apple officially cited in the complaint.
Cupertino also filed a billion-dollar royalty lawsuit against the chipmaker at the same time, accusing it of charging for patents “they have nothing to do with”.
The legal battle between the pair shows no signs of fizzling out, and has led Apple to reduce its reliance on Qualcomm chips — with Intel the short term beneficiary.
An Apple spokesperson declined to comment on the latest litigious development in Germany but pointed to its statement from December 20 in which it takes a broad swipe at Qualcomm’s “tactics”.
In the statement Apple also said resellers in the market would continue to stock all models.
It writes:
Qualcomm’s campaign is a desperate attempt to distract from the real issues between our companies. Their tactics, in the courts and in their everyday business, are harming innovation and harming consumers. Qualcomm insists on charging exorbitant fees based on work they didn’t do and they are being investigated by governments all around the world for their behavior.We are of course disappointed by this verdict and we plan to appeal. All iPhone models remain available to customers through carriers and resellers in 4,300 locations across Germany. During the appeal process, iPhone 7 and iPhone 8 models will not be available at Apple’s 15 retail stores in Germany. iPhone XS, iPhone XS Max and iPhone XR will remain available in all our stores.
The sideswipe at Qualcomm’s “tactics” is perhaps also a tactic reference to the use of a controversial PR firm, Definers, which — as we reported in November — had sent pitches slinging mud at Apple seemingly on Qualcomm’s behalf.
Late last year Facebook confirmed it had severed its own business relationship with the PR firm after it was revealed to have used antisemitic smear tactics to try to discredit Facebook critics.
We’ve asked Qualcomm for comment on its use of the PR firm.
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Samsung’s Space Monitor is practical and minimal
Samsung always has a huge presence at CES, but it isn’t the giant TVs and flashy next-generation gadgets that have my attention this year; it’s this simple, flexible monitor that looks like it would be right at home in any workspace. It’s called the Space Monitor, presumably because it gives you space, not because it’s meant for use in space. I don’t see why you couldn’t, though.
What the Space Monitor does is very simple: it clamps to your desk and sits straight up from the edge — up against the wall if there is one — and takes up about as little space as it’s possible for a display to.
When you want to bring something closer, or lower, or just need to adjust the angle or whatever, the neck of the monitor lets you bring it down all the way to the level of your desk and tilt it up or down as well (though not side to side). Cables go up through the stand so you won’t see them at all.
Combined with very thin bezels on the sides (there’s a thicker, but still very reasonable one on the bottom) this makes for quite a minimal presence, and it could allow someone (like me) to shrink their workspace in some dimension or other. I like my Dell Ultrasharps, but if I was putting together a new desk situation, I’d probably look very hard at these Samsungs.
[gallery ids="1764817,1764820,1764821,1764818"]Sure, you could do a wall mount, but this is much easier and you don’t have to fiddle around with tools or load calculations. Just clamp it on there.
There are two models, a 27-inch QHD (2560×1440) model and a 32-inch 4K one (3840×2160); the latter costs $500, so the former will probably be a bit less. They use VA panels, which hopefully will be about as good as IPS, though of course not quite so good as OLED (though for that tech you’d have to add another zero to the price).
Only downside: 60 Hz maximum refresh rate. That’s a possible dealbreaker for some. But the specs also list a 4 ms response time, without explaining further. Perhaps I’ve misunderstood, but I asked Samsung to explain the discrepancy. The specs for the 27-inch display could also differ.
It feels nice to have a reason to visit the actual CES main halls this year. And of course, for the maximalists out there, I’ll also be sure to check out the mammoth new ultrawide:
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Netflix Wants the Bird Box Challenge to Die
Netflix is loving the fact that millions of people have watched Bird Box. However, the streaming service isn’t quite so enamored with the Bird Box Challenge. And YouTube isn’t keen either, as it’s actively removing some Bird Box Challenge videos.
What Is the Bird Box Challenge?
The Bird Box Challenge is based on Bird Box, a Netflix movie starring Sandra Bullock. The film follows Bullock’s character as she leads two children through a forest. The twist being they’re all blindfolded to avoid supernatural entities who scare people to death.
The Bird Box Challenge takes that core idea and runs with it. The challenge being to blindfold yourself and venture outdoors. Some YouTubers have allegedly done this for 24 hours, while others have taken it a step further by involving their children as well.
Netflix Discourages the Bird Box Challenge
Suffice to say Netflix isn’t particularly keen on the Bird Box Challenge. As much as these memes help publicize the film, if someone were to get injured while wandering around blindfolded this wouldn’t do Netflix much good in the PR department. Hence this tweet.
Can’t believe I have to say this, but: PLEASE DO NOT HURT YOURSELVES WITH THIS BIRD BOX CHALLENGE. We don’t know how this started, and we appreciate the love, but Boy and Girl have just one wish for 2019 and it is that you not end up in the hospital due to memes.
— Netflix US (@netflix) January 2, 2019
While Netflix isn’t telling anyone not to do the Bird Box Challenge, the streaming service is suggesting you bear your own personal safety in mind at all times. So, walking around your own backyard is probably fine, but crossing a busy highway wouldn’t be the best idea.
Who Remembers the Tide Pod Challenge?
YouTube is also cracking down on the Bird Box Challenge by removing videos. These are the Bird Box Challenge videos YouTube deems to be contrary to its Community Guidelines. So if you see a video of someone taking their blindfolded child for a stroll, please flag it.
The Bird Box Challenge and the backlash against it is reminiscent of the Tide Pod Challenge. That meme saw people eating laundry detergent and then wondering why it was making them sick. Kids, don’t imitate Sandra Bullock and don’t eat detergent. Please.
Read the full article: Netflix Wants the Bird Box Challenge to Die
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The Roku Channel Adds Premium Subscriptions
Roku is adding Premium Subscriptions to The Roku Channel. This means that alongside a wide range of free, ad-supported content, you’ll be able to watch premium subscription channels including Showtime, Starz, and Epix. However, these won’t be free. Unfortunately.
For the uninitiated, The Roku Channel is a free channel full of movies and TV shows. In October 2017 it became available to everyone with a Roku device. Roku later brought The Roku Channel to the web, but the website is only accessible in the U.S.
Roku Adds Premium Subscriptions
Roku is planning to add at least 25 Premium Subscriptions to The Roku Channel. Once these services have been added to The Roku Channel, users will be able to browse their entire catalogs and enjoy a seven-day (or more) free trial before they need to start paying.
Offering Premium Subscriptions means users users of The Roku Channel will be able to access a range of free content and any premium channels they subscribe to, through the same UI. Going the Roku route also means only paying a single bill using one account.
Watching the entertainment you love is about to get easier.
Premium Subscriptions are coming soon to The #Roku Channel ?? https://t.co/GmcYbXv9NR pic.twitter.com/BE8zIZuet3
— Roku (@RokuPlayer) January 2, 2019
Roku’s Premium Subscriptions will be available with a one-click signup using your existing Roku account information. You can also manage your subscriptions via my.roku.com, making it very easy to subscribe and unsubscribe to different channels as you see fit.
In a press release, Rob Holmes, Vice President of Programming and Engagement at Roku said, “We’re focused on making it easy to find great entertainment of all types on the platform and adding Premium Subscriptions is a natural evolution for The Roku Channel.”
The Roku Channel on the Roku App
Roku is set to start adding Premium Subscriptions to select Roku devices in late January 2019. Improved search functionality will arrive at the same time. The Roku app for Android and iOS is also being updated to enable users to watch The Roku Channel on mobile.
It should be noted that you can also subscribe to these channels on other platforms. Indeed, you may already do so. One of the best ways to subscribe to premium channels is through Amazon Prime, and these are the Amazon Prime TV channels worth watching.
Read the full article: The Roku Channel Adds Premium Subscriptions
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Hey look, it’s the Samsung Galaxy S10
Well, what have we here? If it isn’t the Samsung Galaxy S10, courtesy of perennial smartphone outer, EVLeaks. This marks one the first good looks we’ve got at the phone, which is likely due out in a couple of months at Mobile World Congress.
It’s a pretty rough photo — the icons are all blurred out and the cropping job isn’t great, likely in an effort to conceal the source. But it’s a pretty decent shot of the front — and hey, we probably have month and change to go for the thing to start leaking like crazy.
The most interesting bit here is probably the least surprising. After holding off on the notch last generation, Samsung has skipped it over entirely, instead opting for the hole-punch camera design we recently noted would be all the rage in 2019 smartphones. Huawei, notably, already beat Samsung to the proverbial hole-punch late last year with the Nova 4.
The “Beyond 1” mentioned here is the working title for the flagship phone. “Beyond 2” will likely be the S10 Plus, while the “Beyond 0” is expected to be a budget version, akin to the iPhone XR.
Another tidbit from the new leak is the phone’s apparent ability to wirelessly charge compatible handsets and perhaps even Samsung wearables. That would put the product in line with another recent Huawei handset, the Mate 20 Pro.
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3D printed gun activist Cody Wilson indicted for sexual assault
The State of Texas has indicted Cody Wilson, a 3D printed gun rights activist who fought to allow makers post and print guns, of sexual assault after he had sex with a 17-year-old girl. The affidavit noted that he met the girl on a website for finding “sugar daddies.” The indictment, posted on Ars, notes that he faces “four counts of sexual assault of a child, two charges of indecency with a child by contact, and two charges of indecency with a child by exposure.”
The charges are punishable by up to 20 years in prison and a $10,000 fine.
The affidavit on the crime said Wilson used the name Sanjuro on the site and that he paid the 17-year-old $500 for sex. His company, DefenseDistributed, has dumped him as founder.
Wilson is out on $150,000 bond and not yet in jail.
He rose to prominence for supporting 3D printed guns as far back as 2013, causing a panic that reduced interest in the 3D printing industry and led to a court decision in July that found 3D printed gun plans to be legal.
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