Connect with us

News

Netflix paid $587M for Ben Affleck’s AI filmmaking startup

info

Published

on

Ben Affleck 0309 R1 c.jpg

In a new regulatory filing, Netflix revealed that it paid $587 million in cash for InterPositive, a startup co-founded by actor and director Ben Affleck.

The streaming company announced the acquisition in March, with a statement from Affleck saying he wanted to “protect the power of human creativity.” According to Affleck, InterPublic’s AI tools help filmmakers improve their footage in post-production, particularly when it comes to making up for “real-world production challenges such as missing shots, background replacements or incorrect lighting.”

At the time, Netflix announced that the entire InterPositive team would be joining the company, with Affleck joining as a senior advisor, but it didn’t disclose the financial terms of the deal. A subsequent report in Bloomberg suggested that the deal could be worth up to $600 million.

In its most recent earnings report, Netflix said that around 300 of its titles have already used generative AI.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Oyetola orchestrated freezing of Osun accounts – Gov Adeleke

info

Published

on

By

Adeleke.jpg

Governor of Osun State, Ademola Adeleke, has accused his predecessor, Gboyega Oyetola, of orchestrating the freezing of the state government’s account by the Economic and Financial Crimes Commission, EFCC.

The governor made the allegation on Tuesday during the Arise TV Town Hall on the Osun governorship election.

Adeleke alleged that Oyetola, the Minister of Marine and Blue Economy, told the EFCC that President Bola Tinubu had directed the agency to act.

“I am sure he (Oyetola) told EFCC to freeze our account, that Mr. President said it should be frozen,” Adeleke said.

According to the governor, the situation changed after Tinubu personally contacted him.

“So, when Mr President called, a lot of people were shocked. Because when Mr President called, he said he was embarrassed. He said it is not acceptable because I told him, the President, that he would not want democracy to go down; he wants a free and fair election,” Adeleke said.

Governor Adeleke further claimed that Oyetola exploited his relationship with Tinubu to pursue political interests in Osun, alleging that his predecessor had not recovered from his defeat in the previous governorship election.

DAILY POST reports that Adeleke is seeking another term of four years in office under the Accord Party in the governorship election scheduled for August 15, 2026.

Continue Reading

News

AANI Seeks Secure Environment For Nigeria’s Orange Economy

info

Published

on

By

Motion photo 4752348850657850576 1.jpg

By Sumaila Ogbaje

The President of the Alumni Association of the National Institute (AANI), Amb. Emmanuel Obi Okafor, has called for a secure environment to unlock Nigeria’s Orange Economy.

Okafor made the call at the 5th Distinguished AANI Alumni Lecture at the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Plateau.

This is contained in a statement by AANI’s Publicity Secretary, Mr Ifeanyi Ngama, on Monday in Abuja.

The lecture was themed: “The Orange Economy and Entrepreneurship for Sustainable Development in Nigeria: Security as a Primary Enabler.”

Okafor said security was fundamental to entrepreneurship, innovation, investment and sustainable development, particularly within Nigeria’s growing creative economy.

He said the creative industries could generate jobs, stimulate economic growth, promote entrepreneurship and strengthen Nigeria’s global cultural influence.

He urged government to invest in skills, infrastructure, financing, digital connectivity and intellectual property protection to unlock the sector’s potential.

Okafor also called for a broader conception of national security encompassing economic opportunity, education, human capital development, social inclusion and protection of creative enterprises.

The Director-General of NIPSS, Prof. Ayo Omotayo, described the lecture series as an enduring platform for evidence-based policy discourse and practical responses.

Omotayo said Nigeria’s creative talent and entrepreneurial energy could drive economic transformation if supported by appropriate institutional and security conditions.

“Ideas require institutions, innovation requires investment, entrepreneurship requires confidence, and confidence flourishes only where security prevails,” he said.

Omotayo described security as “the invisible infrastructure upon which economic transformation depends,” and called for coherent policies and effective institutions.

The keynote speaker, retired Rear Adm. Emmanuel Jaiyeola, described the Orange Economy as a promising pathway to inclusive and sustainable development.

Jaiyeola said creativity, culture, innovation and intellectual property could drive employment, economic diversification, youth empowerment and social inclusion.

He identified Nigeria’s youthful population, cultural diversity, creative talent and expanding digital ecosystem as strategic advantages in developing the sector.

Jaiyeola, however, identified inadequate infrastructure, limited finance, weak intellectual property protection, skills deficits, policy fragmentation and insecurity as major constraints.

Describing insecurity as “the most pervasive constraint,” he called for stronger collaboration among government, private sector, educational institutions and creative industry stakeholders.

He also advocated investment in digital infrastructure, entrepreneurship development, skills acquisition and intellectual property protection.

Contributing, Issa Aremu, Director-General, Michael Imoudu National Institute for Labour Studies (MINILS), highlighted the sector’s potential to generate employment.

Aremu advocated formalising the informal sector to improve security, regulation, access to finance, social protection and institutional support for entrepreneurs.

He called for stronger collaboration between creative industry stakeholders and the Federal Ministry of Arts, Culture and the Creative Economy.

Aremu also urged greater protection of digital activities and creative assets, while encouraging stakeholders to explore relevant international frameworks.

He cautioned against viewing Nigeria’s security challenges solely through the prism of insecurity, urging recognition of progress by government and security agencies.

Prof. John Wade, mni, another contributor, called for an integrated approach involving institutions, skills, infrastructure, investment and security to develop Nigeria’s creative economy.

He stressed the need to move beyond policy formulation to effective implementation, coordination and measurable outcomes.

The lecture attracted policymakers, academics, security experts, development practitioners, AANI members and participants of Senior Executive Course 48.

Discussions focused on using the Orange Economy to create jobs, promote innovation, empower youths, diversify the economy and strengthen national security.

The lecture reaffirmed AANI and NIPSS’s commitment to evidence-based policy dialogue and practical recommendations for harnessing Nigeria’s creative potential. (NAN) (www.nannews.ng)

Edited by Isaac Aregbesola

Continue Reading

Trending