Dolby Laboratories Reinforces Licensing Business with Acquisition of GE Licensing

Dolby Laboratories announced that it has entered into a definitive agreement to acquire GE Licensing, which owns, maintains, and licenses an extensive portfolio of intellectual property (IP), primarily targeting the consumer digital media and electronics sectors. GE Licensing is responsible for more than 5,000 patents, including important digital media technologies such as the HEVC (High Efficiency Video Coding) and VVC (Versatile Video Coding) video and audio encoding technologies.

Descript, a San-Francisco, CA-based company developing next-generation digital media platforms, announced the release of Descript Video, a powerful new media creation platform that makes it faster, easier, and fun to create content. Expanding from the company's impressive audio-to-text and text-to-audio tools, Descript Video allows anyone to record and edit multitrack videos with titles, transitions, image and video overlays, animations, and more — all with the same ease and flexibility as editing a document.