A pixel aspect ratio (PAR) is a mathematical ratio that describes how the width of a pixel in a digital image compares to the height of that pixel. Most digital imaging systems display an image as a grid of tiny, square pixels. However, some imaging systems, especially those that must be compatible with standard-definition television motion pictures, display an image as a grid of rectangular pixels, in which the pixel width and height are different. Pixel aspect ratio describes this difference. Use of pixel aspect ratio mostly involves pictures pertaining to standard-definition television and some other exceptional cases. Most other imaging systems, including those that comply with SMPTE standards and practices, use square pixels. PAR is also known as sample aspect ratio and abbreviated SAR, though it can be confused with storage aspect ratio. == Introduction == The ratio of the width to the height of an image is known as the aspect ratio, or more precisely the display aspect ratio (DAR) – the aspect ratio of the image as displayed; for TV, DAR was traditionally 4:3 (a.k.a. fullscreen), with 16:9 (a.k.a. widescreen) now the standard for HDTV. In digital images, there is a distinction with the storage aspect ratio (SAR), which is the ratio of pixel dimensions. If an image is displayed with square pixels, then these ratios agree; if not, then non-square, "rectangular" pixels are used, and these ratios disagree. The aspect ratio of the pixels themselves is known as the pixel aspect ratio (PAR) – for square pixels this is 1:1 – and these are related by the identity: Rearranging (solving for PAR) yields: For example: A 640 × 480 VGA image has a SAR of 640/480 = 4:3, and if displayed on a 4:3 display (DAR = 4:3) has square pixels, hence a PAR of 1:1. By contrast, a 720 × 576 D-1 PAL image has a SAR of 720/576 = 5:4, but if displayed on a 4:3 display (DAR = 4:3) the PAR is 4/3 : 5/4 = 16:15 ≈ 1.066. This means that the pixels of the PAL picture must be "stretched" by this amount to fit in the 4:3 display. In analog images such as film there is no notion of pixel, nor notion of SAR or PAR, but in the digitization of analog images the resulting digital image has pixels, hence SAR (and accordingly PAR, if displayed at the same aspect ratio as the original). Non-square pixels arise often in early digital TV standards, related to digitalization of analog TV signals – whose vertical and "effective" horizontal resolutions differ and are thus best described by non-square pixels – and also in some digital video cameras and computer display modes, such as Color Graphics Adapter (CGA). Today they arise also in transcoding between resolutions with different SARs. Actual displays do not generally have non-square pixels, though digital sensors might; they are rather a mathematical abstraction used in resampling images to convert between resolutions. There are several complicating factors in understanding PAR, particularly as it pertains to digitization of analog video: First, analog video does not have pixels, but rather a raster scan, and thus has a well-defined vertical resolution (the lines of the raster), but not a well-defined horizontal resolution, since each line is an analog signal. However, by a standardized sampling rate, the effective horizontal resolution can be determined by the sampling theorem, as is done below. Second, due to overscan, some of the lines at the top and bottom of the raster are not visible, as are some of the possible image on the left and right – see Overscan: Analog to digital resolution issues. Also, the resolution may be rounded (DV NTSC uses 480 lines, rather than the 486 that are possible). Third, analog video signals are interlaced – each image (frame) is sent as two "fields", each with half the lines. Thus either the pixels are twice as tall as they would be without interlacing, or the image is deinterlaced. == Background == Video is presented as a sequential series of images called video frames. Historically, video frames were created and recorded in analog form. As digital display technology, digital broadcast technology, and digital video compression evolved separately, it resulted in video frame differences that must be addressed using pixel aspect ratio. Digital video frames are generally defined as a grid of pixels used to present each sequential image. The horizontal component is defined by pixels (or samples), and is known as a video line. The vertical component is defined by the number of lines, as in 480 lines. Standard-definition television standards and practices were developed as broadcast technologies and intended for terrestrial broadcasting, and were therefore not designed for digital video presentation. Such standards define an image as an array of well-defined horizontal "Lines", well-defined vertical "Line Duration" and a well-defined picture center. However, there is not a standard-definition television standard that properly defines image edges or explicitly demands a certain number of picture elements per line. Furthermore, analog video systems such as NTSC 480i and PAL 576i, instead of employing progressively displayed frames, employ fields or interlaced half-frames displayed in an interwoven manner to reduce flicker and double the image rate for smoother motion. === Analog-to-digital conversion === As a result of computers becoming powerful enough to serve as video editing tools, video digital-to-analog converters and analog-to-digital converters were made to overcome this incompatibility. To convert analog video lines into a series of square pixels, the industry adopted a default sampling rate at which luma values were extracted into pixels. The luma sampling rate for 480i pictures was 12+3⁄11 MHz and for 576i pictures was 14+3⁄4 MHz. The term pixel aspect ratio was first coined when ITU-R BT.601 (commonly known as Rec. 601) specified that standard-definition television pictures are made of lines of exactly 720 non-square pixels. ITU-R BT.601 did not define the exact pixel aspect ratio but did provide enough information to calculate the exact pixel aspect ratio based on industry practices: The standard luma sampling rate of precisely 13+1⁄2 MHz. Based on this information: The pixel aspect ratio for 480i would be 10:11 as: 12 3 11 ÷ 13 1 2 = 10 11 {\displaystyle 12{\tfrac {3}{11}}\div 13{\tfrac {1}{2}}={\tfrac {10}{11}}} The pixel aspect ratio for 576i would be 59:54 as: 14 3 4 ÷ 13 1 2 = 59 54 {\displaystyle 14{\tfrac {3}{4}}\div 13{\tfrac {1}{2}}={\tfrac {59}{54}}} SMPTE RP 187 further attempted to standardize the pixel aspect ratio values for 480i and 576i. It designated 177:160 for 480i or 1035:1132 for 576i. However, due to significant difference with practices in effect by industry and the computational load that they imposed upon the involved hardware, SMPTE RP 187 was simply ignored. SMPTE RP 187 information annex A.4 further suggested the use of 10:11 for 480i. As of this writing, ITU-R BT.601-6, which is the latest edition of ITU-R BT.601, still implies that the pixel aspect ratios mentioned above are correct. === Digital video processing === As stated above, ITU-R BT.601 specified that standard-definition television pictures are made of lines of 720 non-square pixels, sampled with a precisely specified sampling rate. A simple mathematical calculation reveals that a 704 pixel width would be enough to contain a 480i or 576i standard 4:3 picture: A 4:3 480-line picture, digitized with the Rec. 601-recommended sampling rate, would be 704 non-square pixels wide. x 480 × 10 11 = 4 3 ⇒ x = 480 × 11 × 4 10 × 3 = 704 {\displaystyle {\frac {x}{480}}\times {\frac {10}{11}}={\frac {4}{3}}\Rightarrow x={\frac {480\times 11\times 4}{10\times 3}}=704} A 4:3 576-line picture, digitized with the Rec. 601-recommended sampling rate, would be 702+54⁄59 non-square pixels wide. x 576 × 59 54 = 4 3 ⇒ x = 576 × 54 × 4 59 × 3 = 702 54 59 {\displaystyle {\frac {x}{576}}\times {\frac {59}{54}}={\frac {4}{3}}\Rightarrow x={\frac {576\times 54\times 4}{59\times 3}}=702{\tfrac {54}{59}}} Unfortunately, not all standard TV pictures are exactly 4:3: As mentioned earlier, in analog video, the center of a picture is well-defined but the edges of the picture are not standardized. As a result, some analog devices (mostly PAL devices but also some NTSC devices) generated motion pictures that were horizontally (slightly) wider. This also proportionately applies to anamorphic widescreen (16:9) pictures. Therefore, to maintain a safe margin of error, ITU-R BT.601 required sampling 16 more non-square pixels per line (8 more at each edge) to ensure saving all video data near the margins. This requirement, however, had implications for PAL motion pictures. PAL pixel aspect ratios for standard (4:3) and anamorphic wide screen (16:9), respectively 59:54 and 118:81, were awkward for digital image processing, especially for mixing PAL and NTSC video clips. Therefore, video editing products chose the almost equivalent value
Sparrow (chatbot)
Sparrow is a chatbot developed by the artificial intelligence research lab DeepMind, a subsidiary of Alphabet Inc. It is designed to answer users' questions correctly, while reducing the risk of unsafe and inappropriate answers. One motivation behind Sparrow is to address the problem of language models producing incorrect, biased or potentially harmful outputs. Sparrow is trained using human judgements, in order to be more “Helpful, Correct and Harmless” compared to baseline pre-trained language models. The development of Sparrow involved asking paid study participants to interact with Sparrow, and collecting their preferences to train a model of how useful an answer is. To improve accuracy and help avoid the problem of hallucinating incorrect answers, Sparrow has the ability to search the Internet using Google Search in order to find and cite evidence for any factual claims it makes. To make the model safer, its behaviour is constrained by a set of rules, for example "don't make threatening statements" and "don't make hateful or insulting comments", as well as rules about possibly harmful advice, and not claiming to be a person. During development study participants were asked to converse with the system and try to trick it into breaking these rules. A 'rule model' was trained on judgements from these participants, which was used for further training. Sparrow was introduced in a paper in September 2022, titled "Improving alignment of dialogue agents via targeted human judgements"; however, the bot was not released publicly. DeepMind CEO Demis Hassabis said DeepMind is considering releasing Sparrow for a "private beta" some time in 2023. == Training == Sparrow is a deep neural network based on the transformer machine learning model architecture. It is fine-tuned from DeepMind's Chinchilla AI pre-trained large language model (LLM), which has 70 Billion parameters. Sparrow is trained using reinforcement learning from human feedback (RLHF), although some supervised fine-tuning techniques are also used. The RLHF training utilizes two reward models to capture human judgements: a “preference model” that predicts what a human study participant would prefer and a “rule model” that predicts if the model has broken one of the rules. == Limitations == Sparrow's training data corpus is mainly in English, meaning it performs worse in other languages. When adversarially probed by study participants it breaks the rules 8% of the time; however, this is still three times lower than the baseline prompted pre-trained model (Chinchilla).
Social media use by the Islamic State
The Islamic State is widely known for its posting of disturbing content, such as beheading videos, on the internet. This propaganda is disseminated through websites and many social media platforms such as Twitter, Facebook, Telegram, and YouTube. By utilizing social media, the organization has garnered a strong following and successfully recruited tens of thousands of followers from around the world. In response to its successful use of social media, many websites and social media platforms have banned accounts and removed content promoting the Islamic State from their platforms. == Background == The Islamic State is a Jihadist militant group and a former unrecognised proto-state. The group sophisticatedly utilizes social media as a tool for spreading its message and for international recruitment. == Target audience == IS targets a variety of different groups both in the Middle East and Western Countries. There are a wide variety of motives for why fighters may be prompted to join IS. Researchers from Quantum cite nine attributes characteristic of a fighter looking to join IS: status seeking, identity seeking, revenge, redemption, thrill, ideology, justice, and death. The standard IS recruit, both from the Middle East and Western countries, is relatively young. The average age of IS fighters is around 26 years old, with 86% of recruits being male. Middle Eastern recruits come from economically disadvantaged backgrounds in Northern Iraq. Recent destruction in the Iraq War and Syrian Civil War has created hatred of Western Powers in the region. By 2025, researchers identified a significant shift toward targeting minors and adolescents, a phenomenon dubbed the "Alt-Jihad." This younger demographic is targeted not through theological arguments, but through a "victimhood-revenge" narrative that blends extremist ideology with pop-culture aesthetics in gaming environments like Roblox and Minecraft. In 2024 alone, 42 minors were arrested in Europe for involvement in IS-related plotting or propaganda. Western recruits are often second or third-generation immigrants. Computer scientists Zeeshan ul-hassan Usmani also found that the majority of the Western recruits do not feel "at home" in their home country. As a result, these fighters often have desires to go abroad and escape conditions in their home country. In addition to recruitment, IS's social media presence is also meant to intimidate and spread terror around the world. IS's posting of beheadings and other execution videos primarily target the Western world. == Content and messages == IS produces propaganda videos that range from video executions to full-length documentaries. The videos have a high production quality and incorporate montages, slow motion scenes, and are often accompanied by a short dialogue. IS has a dedicated team of over 100 media insurgents dedicated to recording these videos. While the group previously relied on glossy magazines like Dabiq, post-territorial strategies have shifted focus to the weekly newsletter Al-Naba. Unlike previous publications designed for recruitment, Al-Naba serves as a "central pillar" of the group's media strategy, focusing on bureaucratic reporting and military statistics to project a narrative of endurance and maintain internal cohesion among dispersed fighters. The IS executions typically consist of beheadings or mass shootings in retaliation to western intervention in IS territory. The particular videos that IS often post include executions of "enemies of the Caliphate," which often consist of westerners or Jordanian nationals. Most infamously, an executioner nicknamed Jihadi John was seen in many of these videos prior to his death in 2015. Jihadi John is notorious for executing many US, UK, and Japanese citizens such as Steven Sotloff, David Haines, and Alan Henning. In many of the videos and materials produced by IS, there is the theme of inclusion and brotherhood. Additionally, the videos also focus on three main messages: Convey narrative of global war and ultimate victory Radicalize populations globally Encourage international lone state actor and small cell attacks in support of IS These messages can be seen throughout all content produced by the Islamic State such as war documentaries, execution videos, and Rumiyah (magazine). == Social media usage == From 2013 to 2014, the organization primarily used mainstream platforms such as Twitter, Facebook, and YouTube. In 2014, these large social media platforms removed IS content. Since then, IS has chosen to utilize social media platforms that either protect their content or allow for content to quickly be reposted. These platforms of choice are Telegram, Justpaste.it, and Surespot, until the latter's shutdown in 2022. By 2025, the group had further diversified into decentralized platforms like Rocket.Chat and TamTam to evade moderation. IS also implements marketing initiatives like “Jihadist Follow Friday,” which encourages users to follow new IS-related accounts each Friday. This specific hashtag mirrors commonly used hashtags such as #motivation monday or #throwbackthursday. To augment their online presence and popularity, the organization encourages their followers to use a plethora of Arabic hashtags, which translate to #theFridayofSupportingISIS, and #CalamityWillBefalltheUS. This allows them to gain followers each week while promoting their community and message on a weekly basis. === Twitter === During 2014, there were an estimated 46,000 to 90,000 Twitter accounts that advocated for IS or were run by supporters of the group. In 2015, Twitter reported that it banned 125,000 IS sympathetic accounts. In 2016, it published an update of 325,000 deleted accounts. Though many accounts have been suspended, IS supporters often create new accounts. Twitter defines those who recreate accounts as “resurgents” and explains that these are often difficult accounts to remove completely, since they tend to pop back up in alternate forms. It is estimated that approximately 20% of all IS affiliated Twitter accounts can be traced back to fake accounts created by the same user. Many of these accounts are traced back to the “Baqiya family,” which is an online network of thousands of IS followers. Many of these accounts are active during important IS military victories. During the IS march on Mosul, there were about 42,000 tweets on Twitter supporting the invasion. === Telegram === During 2014, IS became very active on Telegram after many major social media platforms banned IS content and sympathetic accounts. Telegram is an encrypted messaging application. The platform by nature is created as an end-to-end user encryption platform. Further, it also has special features such as the self-destruct timer which erase all evidence and messages. The app has a user data protection policy because violating this policy could potentially damage the app’s brand of customer privacy. Government agencies have been unable to break Telegram's encryption technology. On Telegram, IS often uses the hashtag #KhilafahNews to attract their users. Telegram is used by IS to plan social media campaigns on alternate platforms. The organization also uses Telegram as an anchor platform to connect with their user base when their other accounts are banned on Twitter and Facebook. On 28 February 2016 a video was uploaded threatening to expose the najaasah and shoot the hesitates. Produced by Ibn-Altayb and distributed by Al-Hayat, the video shows footage of Bruxelles attacks and the victims. In July 2017, Telegram came under scrutiny from the media and news media outlets. It has been documented that IS gunmen have used this app to maintain contact with IS leaders in Raqqa days before terror attacks in Turkey, Berlin, and St. Petersburg. Despite concerns from Western media, there has been little to no action taken against IS accounts on Telegram. In April 2019 a video was uploaded in which they urged lone wolves to attempt to attack during the Holy Week in Sevilla and Málaga. In Sevilla, a jihadist who intended to perform a lone wolf attack was arrested. === TikTok === In October 2019, it was reported that IS recruitment content was discovered on TikTok. Approximately two dozen accounts were subsequently shut down in response. By 2025, TikTok had evolved into a "low-threshold" gateway for extremist recruitment, characterized by researchers as part of a "Virtual Caliphate Complex." Nearly 93 unofficial IS support groups, known as "feeder groups," were found to be repackaging official IS content into short-form videos with pink hearts, catchy music, and internet memes to evade detection and appeal to the "TikTok generation." This content often promotes a "victimhood-revenge" narrative rather than complex theology, specifically designed to radicalize minors. === Justpaste.it === Justpaste.it, an anonymous photo and text sharing website, has also been utilized heavily. With the option to lock images, the website allows anonymous
MADI
Multichannel Audio Digital Interface (MADI) standardized as AES10 by the Audio Engineering Society (AES) defines the data format and electrical characteristics of an interface that carries multiple channels of digital audio. The AES first documented the MADI standard in AES10-1991 and updated it in AES10-2003 and AES10-2008. The MADI standard includes a bit-level description and has features in common with the two-channel AES3 interface. MADI supports serial digital transmission over coaxial cable or fibre-optic lines of 28, 56, 32, or 64 channels; and sampling rates to 96 kHz and beyond with an audio bit depth of up to 24 bits per channel. Like AES3 and ADAT Lightpipe, it is a unidirectional interface from one sender to one receiver. == Development and applications == MADI was developed by AMS Neve, Solid State Logic, Sony and Mitsubishi and is widely used in the audio industry, especially in the professional audio sector. It provides advantages over other audio digital interface protocols and standards such as AES3, ADAT Lightpipe, TDIF (Tascam Digital Interface), and S/PDIF (Sony/Philips Digital Interface). These advantages include: Support for a greater number of channels per line Use of coaxial and optical fiber media that support transmission of audio signals over 100 meters, up to 3000 meters over multi-mode and 40,000 meters over single-mode optical fiber The original specification (AES10-1991) defined the MADI link as a 56-channel transport for linking large-format mixing consoles to digital multitrack recording devices. Large broadcast studios also adopted it for routing multi-channel audio throughout their facilities. The 2003 revision (AES10-2003) adds a 64-channel capability by removing varispeed operation and supports 96 kHz sampling frequency with reduced channel capacity. The latest AES10-2008 standard includes minor clarifications and updates to correspond to the current AES3 standard. Audio over Ethernet of various types is the primary alternative to MADI for transport of many channels of professional digital audio. == Transmission format == MADI links use a transmission format similar to Fiber Distributed Data Interface (FDDI) networking. Since MADI is most often transmitted on copper links via 75-ohm coaxial cables, it more closely compares to the FDDI specification for copper-based links, called CDDI. AES10-2003 recommends using BNC connectors with coaxial cables and SC connectors with optic fibers. MADI over fibre can support a range of up to 2 km. The basic data rate is 100 Mbit/s of data using 4B5B encoding to produce a 125 MHz physical baud rate. Unlike AES3, this clock is not synchronized to the audio sample rate, and the audio data payload is padded using JK sync symbols. Sync symbols may be inserted at any subframe boundary, and must occur at least once per frame. Though the standard disassociates the transmission clock from the audio sample rate, and thus requires a separate word clock connection to maintain synchronization, some vendors do give the option of locking to parts of the transmission timing information for purposes of deriving a word clock. The audio data is almost identical to the AES3 payload, though with more channels. Rather than letters, MADI assigns channel numbers from 0–63. Frame synchronization is provided by sync symbols outside the data itself, rather than an embedded preamble sequence, and the first four time slots of each sub-channel are encoded as normal data, used for sub-channel identification: Bit 0: Set to 1 to mark channel 0, the first channel in each frame Bit 1: Set to 1 to indicate that this channel is active (contains interesting data) Bit 2: notA/B channel marker, used to mark left (0) and right (1) channels. Generally, even channels are A and odd channels are B. Bit 3: Set to 1 to mark the beginning of a 192-sample data block == Sampling frequency == The original AES10-1991 specification allowed 56 channels at sample rates from 32 to 48 kHz with an additional vari-speed range of ± 12.5%. This leads to a total range of 28 to 54 kHz. At the highest frequency, this produces a total of 56 × 32 × 54 = 96768 kbit/s, leaving 3.232% of the channel for synchronization marks and transmit clock error. The 2003 revision specifies different relations between sampling frequency and number of channels. 32 kHz to 48 kHz ± 12.5%, 56 channels; 32 kHz to 48 kHz nominal, 64 channels; 64 kHz to 96 kHz ± 12.5%, 28 channels. With a 48 kHz sampling frequency, 64 channels take 64 × 32 × 48000 = 98.304 Mbit/s. Adding the minimum 8 × 58 kbit/s of framing produces 98688 bit/s, leaving 1.312% free for timing variation and other overhead. Both versions of the standard accommodate higher sampling frequencies (for example, 96 kHz or 192 kHz) by using two or more channels per audio sample on the link.
Macroelectronics
Macroelectronics are flexible electronics that cover a large area. The most visible example of macroelectronics is flat-panel displays. Other emerging applications include rollable display, printable thin film solar cell and electronic skin. Flat-panel displays fabricated on glass substrates are fragile so fabricating directly on flexible substrates, such as polymers is being explored. Displays made on thin polymer substrates can be more rugged than glass. In September 2005, Philips Polymer Vision revealed the world's first prototype of a rollable electronic reader, which can unfold to a 5-inch display and roll back into a pocket-size (100×60×20 mm) device. Thin-film devices on flexible polymer substrates can lend themselves to low-cost fabrication processes (i.e., roll-to-roll printing), resulting in lightweight, rugged and flexible macroelectronic products.
Wave Financial
Wave is a Canadian company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighbourhood in Toronto, Canada. The company's first product was free online accounting software designed for businesses with 1–9 employees, followed by invoicing, personal finance and receipt-scanning software (OCR). In 2012, Wave began branching into financial services, initially with Payments by Wave (credit card processing) and Payroll by Wave, followed in February 2017 by Lending by Wave, which has since been discontinued. == History == CEO Kirk Simpson and CPO James Lochrie launched Wave Accounting Inc. in July 2009, Wave Accounting launched to the public on November 16, 2010. In June 2011, Series A funding led by OMERS Ventures was closed. In September 2011, FedDev Ontario invested one million dollars in funding. In October 2011, a $5-million investment led by U.S. venture capital firm Charles River Ventures was announced. In May 2012, Wave Accounting closed its series B financing round led by The Social+Capital Partnership, with follow-on participation from Charles River Ventures and OMERS Ventures. Wave acquired a company called Small Payroll in November 2011, which was later launched as a payroll product called Wave Payroll. In February 2012, Wave officially launched Wave Payroll to the public in Canada, followed by the American release in November of the same year. In August, 2012, the company announced the acquisition of Vuru.co, an online stock-tracking service. Terms of the deal were not disclosed. In December 2012, the company rebranded itself as Wave to emphasize its broadened spectrum of services. On March 14, 2019, the company acquired Every, a Toronto-based fintech company that provides business accounts and debit cards to small businesses. On June 11, 2019, the company announced it was being acquired by tax preparation company, H&R Block, for $537 million. On June 15, 2022, Wave announced that Kirk Simpson would be leaving and being replaced as CEO by Zahir Khoja. In May 2025, US customers of Wave were transitioned to a new Payroll processing system supported by CheckHQ. The new integration improved support for US employers by handling employer tax withholding and payments in all 50 US States. == Products == The company's initial product, Accounting by Wave, is a double entry accounting tool. Services include direct bank data imports, invoicing and expense tracking, customizable chart of accounts, and journal transactions. Accounting by Wave integrates with expense tracking software Shoeboxed and e-commerce website Etsy. The next product launched was Payroll by Wave, which was launched in 2012 after the acquisition of SmallPayroll.ca. Payroll by Wave is only available in the US and Canada. Invoicing by Wave is an offshoot of the company's earlier accounting tools. Additional products launched on or shortly after the company's rebrand in December 2012 include: a credit card processing tool, Payments by Wave, built initially on integration with Stripe credit card processing. However, Wave does not report merchant fees correctly for countries where Stripe charges a tax such as GST. In these cases, the merchant fees are reported without tax and do not match your Stripe account. a receipt scanning tool, Receipts by Wave. In 2017, Wave signed an agreement to provide its platform on RBC's online business banking site. The RBC-Wave service will be co-branded. == Taxes supported == The company's software supports tax-exclusive pricing, such as U.S. sales tax, where taxes are added on top of prices quoted. This has two effects: When scanning receipts users must manually add the tax, and input the amount. When making an invoice, users must put in a price before tax, and the system will add the tax on top. This makes Wave unable to handle taxes in countries like Australia where prices must be quoted inclusive of all taxes, such as GST. There is no way to set an invoice total and have Wave calculate the tax portion as a percentage. == Pricing and business model == As of June 10, 2024, Wave offers two tiers for its software: a free Starter plan with limitations on some features, and a paid Pro plan. In addition to its paid plan, revenue from the company comes from other paid financial services the company offers: Payments by Wave: Card processing which includes debit, credit and prepaid cards as well as ACH (bank payments) in the United States. Fees are a percentage of the transaction. Payroll by Wave: Monthly subscription fee plus usage fees. Wave previously included advertising on its pages as a source of revenue. Advertising was removed in January 2017. In 2017, Wave raised $24m (USD) in funding led by NAB Ventures. In 2019, H&R Block announced the acquisition of Wave in a cash deal worth $405 million USD.
Acquisition of DirecTV by AT&T
AT&T Inc. announced an agreement with the DirecTV Group on May 18, 2014, to acquire the company for $48.5 billion in a joint cash-stock transaction and assumed debts of $18.6 billion for a total offer of $67.1 billion. Due to stalling growth in the wireless sector, AT&T began diversifying into mass media to expand its consumer offerings. After regulatory agencies approved the purchase on July 24, 2015, AT&T briefly became the largest Pay-TV provider. DirecTV was brought under AT&T's communication segment and DirecTV Now was launched on November 30, 2016, as an alternative to cord-cutting. In the years following the purchase, DirecTV lost millions of subscribers across its satellite and streaming services and by 2019, calls grew for AT&T to divest itself off the business. Initially, AT&T rejected these calls and defended the acquisition, but by February 2021, it reached a deal with TPG Inc. to transfer ownership of DirecTV. Under the terms of the agreement, AT&T would retain a 70% majority stake in DirecTV but would no longer oversee its daily operations. The deal was finalized by August 2, 2021, with AT&T receiving $7.1 billion. By July 3, 2025, AT&T sold its majority stake to TPG, ending any ties of involvement. == Background and Development == === AT&T's history === The company to bear the name "AT&T" was founded on March 3, 1885, as American Telephone and Telegraph Company (or AT&T Corporation) by Theodore Newton Vail as a long-distance subsidiary of the Bell Telephone Company. By December 1899, the Bell Telephone's assets were transferred to AT&T, with the latter gaining control of the Bell System, a regional network of local telecom companies. Theodore Vail became AT&T's President in 1907 and under his leadership, AT&T gained a monopoly over the telephone sector in the United States. This near century dominance earned AT&T the nickname of "Ma Bell." In 1974, the U.S. Department of Justice sued AT&T on accounts of antitrust violations. AT&T challenged the lawsuit, but in 1982, it reached a settlement with the DOJ to break apart its Bell System monopoly into seven regional companies. On January 1, 1984, the Bell System came to an end and led to a reshaped telecom industry. One of these regional companies, Southwestern Bell, emerged as the smallest, but after the passage of the 1996 Telecom Act, deregulated telecom rules allowed SBC to become a major telecom company. AT&T briefly became the largest cable and broadband company by the end of the 20th Century, but later deconsolidated to exit those industries. In 2005, SBC acquired its former parent, AT&T, and took on its branding as AT&T Inc, while retaining its previous business history. The newly reincorporated AT&T acquired BellSouth in 2006 and reconstituted much of its former Bell System. === DirecTV's history === == Acquisition Timeline == == Managing DirecTV == == Divestment and Spinoff ==