At its I/O developer conference today, Google announced Veo, its latest generative AI video model, that "can generate 'high-quality' 1080p resolution videos over a minute in length in a wide variety of visual and cinematic styles," reports The Verge. From the report: Veo has "an advanced understanding of natural language," according to Google's press release, enabling the model to understand cinematic terms like "timelapse" or "aerial shots of a landscape." Users can direct their desired output using text, image, or video-based prompts, and Google says the resulting videos are "more consistent and coherent," depicting more realistic movement for people, animals, and objects throughout shots. Google DeepMind CEO Demis Hassabis said in a press preview on Monday that video results can be refined using additional prompts and that Google is exploring additional features to enable Veo to produce storyboards and longer scenes. As is the case with many of these AI model previews, most folks hoping to try Veo out themselves will likely have to wait a while. Google says it's inviting select filmmakers and creators to experiment with the model to determine how it can best support creatives and will build on these collaborations to ensure "creators have a voice" in how Google's AI technologies are developed. Some Veo features will also be made available to "select creators in the coming weeks" in a private preview inside VideoFX -- you can sign up for the waitlist here for an early chance to try it out. Otherwise, Google is also planning to add some of its capabilities to YouTube Shorts "in the future." Along with its new AI models and tools, Google said it's expanding its AI content watermarking and detection technology. The company's new upgraded SynthID watermark imprinting system "can now mark video that was digitally generated, as well as AI-generated text," reports The Verge in a separate report.

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Disney CEO Bob Iger says the company is shrinking the MCU with a new mission to drop the number of Marvel TV series to two a year and the film output to no more than three movies per year. The comment follows Iger conceding last year that Marvel had diluted audience's focus by making too many TV shows. From a report: Iger said this is part of Disney's overall strategy to reduce output and focus on quality, a strategy "that's particularly true with Marvel." "We're slowly going to decrease volume and go to probably about two TV series a year instead of what had become four and reduce our film output from maybe four a year to two, or a maximum of three," the Disney CEO said during the company's quarterly earnings call Tuesday. "And we're working hard on what that path is." Iger says Marvel has "a couple of good films in '25 and then we're heading to more 'Avengers,' which we're extremely excited about," adding: "Overall, I feel great about the slate. It's something that I've committed to spending more and more time on. The team is one that I have tremendous confidence in and the IP that we're mining, including all the sequels that we're doing, is second to none."

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Sony Pictures Entertainment and Apollo Global Management have made a bid to acquire Paramount for $26 billion and take it private. Variety reports: Sony and private-equity giant Apollo submitted a letter with the non-binding offer Wednesday to Paramount Global, as first reported by the Wall Street Journal. The bid, which would include the assumption of debt and could be negotiated, would be a premium over the company's current $22 billion enterprise value. Shares of Paramount Global jumped 13% on news of the offer from Apollo and Sony Entertainment, closing at $13.86 per share Thursday. It's not clear how Paramount's board will proceed on the Sony-Apollo proposal, having rejected previous overtures from the private-equity firm. The company has an exclusive negotiating window with Skydance that ends Friday (May 3), but discussions among the parties could extend beyond that. If it happens, the combination of Sony Pictures with Paramount Pictures would likely result in mass layoffs -- and knock the number of major Hollywood studios from five to four, after Disney took over 20th Century. Sony Corp., which acquired Columbia Pictures in 1990 for $3.5 billion, is the largest studio operator in the industry that does not have a broad-scale direct-to-consumer streaming play. Under the proposed bid with Apollo, Sony would be the majority owner of the combined company. Sony Corp. would merge Sony Pictures Entertainment into a joint venture with Paramount Global. Sony and Apollo would both contribute cash to finance the deal. What's unclear is what would happen to the 28 local TV stations CBS owns; FCC rules bar foreign entities (i.e. Tokyo-based Sony) from having majority ownership control of broadcast TV stations, so Sony would need to carve out a separate U.S. ownership structure for the station group. In the Skydance scenario, Redstone would sell her stake in National Amusements, which holds 77% of the voting shares in Paramount Global, to Skydance, whereupon Skydance would merge with Paramount Global in an all-stock deal that would value Skydance at roughly $5 billion. Paramount Global would remain a publicly traded company. Redstone would receive up to $2 billion from the Skydance-NAI transaction; in addition, Skydance would pay a premium for Paramount Global shares and pay $3 billion to the company to help pay down debt. Ellison would serve as CEO of the merged Paramount-Skydance, while Jeff Shell, the former NBCUniversal CEO who is chairman of sports and media at RedBird and works under founder and managing partner Gerry Cardinale, would take on a key management role.

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