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Avid just announced the release of its first video editing application for the iPad—Avid Studio. The app will run on iPad only, though Avid says it’s exploring other mobile operating systems. Avid Studio for iPad costs $4.99 to start; after 30 days, the price will jump to $7.99. That’s still much less than what other current desktop editing applications cost, including Avid’s own Avid Studio ($129.99), Adobe Premiere Elements ($99.99), Apple’s Final Cut Pro X ($299.99), and Sony’s Vegas Movie Studio HD Platinum ($59.95).

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The following is an extract of an article that was published today in Forbes magazine online.

In 2012, Google plans to continue acquiring new companies that will either enhance its existing businesses or create new cash cow opportunities. On that note, which five companies should Google buy next?  (Adobe, Avid, Sony, Sprint, Netflix)

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Apple today released Final Cut Pro® X v10.0.3, a significant update to its revolutionary professional video editing application, which responds to users complaints (see Final Cut Pro X impact on 2012-2013 NLE Pro Video Marketplace) when FCP X was first introduced in June 2011.

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SCRI's NewsBriefs

News headlines for broadcast, pro and streaming media sectors, worldwide

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SCRI's NewsBriefs

News headlines for broadcast, pro and streaming media sectors, worldwide

Follow Broadcast Pro Video Breaking News on Twitter

Apple just reported their Q1 2012 financial results, posting record-breaking revenue of $46.33 billion, with 15.43 million iPads, 37.04 million iPhones and 5.2 million Macs sold. Apple sold 15.4 million iPods, a 21 percent unit decline from the year-ago quarter. The company posted quarterly net profit of $13.06 billion, or $13.87 per diluted share. iPhone represented a 128 percent unit growth over the year-ago quarter, while iPad reported a 111 percent unit increase over the year-ago quarter.

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Semtech Corporation, a supplier of analog and mixed-signal semiconductors, and Gennum Corporation, a supplier of high speed analog and mixed-signal semiconductors for the optical communications and video broadcast markets, have entered into a definitive arrangement agreementfor Semtech to acquire all of the outstanding shares of Gennum for a total consideration of approximately  $494 million.

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Nonlinear editing systems (NLEs) will continue to grow over the next three years, in spite of major technological changes that have left many high-end editors bereft, frustrated and storming out of the edit suite. A technologically intensive, changing business model has made nonlinear editing a challenge to both manufacturers and producers, with improvements and re-branding by Apple leaving some seasoned editors profoundly disgusted.

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With more than 100 products introduced at the CES Unveiled event last night and press day opening today, the Consumer Electronics Association (CEA)^® announces that the 2012 International CES will be the association’s second largest show in history when show floor opens on Tuesday. For a sneak peek at the show floor before it opens, visit CES’s YouTube channel and for a look at the innovation from CES Unveiled, click here.

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The Walt Disney Company’s (Disney — rated ‘A’; Outlook Stable by Fitch) and Comcast Corporation’s (Comcast — rated ‘BBB+’; Outlook Stable) announcement that the two companies have secured a long-term comprehensive distribution agreement is a positive for Disney and other content providers, according to Fitch Ratings. Fitch views the deal as evidence of its belief that providers of in-demand, high quality content will continue to monetize it in incremental ways and thrive amid, rather than be pressured by, the proliferation of alternative distribution platforms.

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SCRI's NewsBriefs

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