At an investor conference today, CBS Chief Executive Officer Leslie Moonves said the top-rated broadcaster could offer its content directly to consumers over the Internet and cut off its traditional broadcast signal if the Aereo video streaming service is deemed legal, Reuters reports.
Rick Caruso, the prominent developer known for such showy shopping centers as The Grove and the Commons at Calabasas, is poised to take over much of the nearly moribund commercial center in Pacific Palisades, but may face an uphill battle with some no-growth residents, the Los Angeles Times reports.
William J. Popejoy, a longtime trustee for Newport Beach's $1.9-trillion Pimco funds, tells the Los Angeles Times that the reported $200-million annual salary of embattled co-founder and chief investment officer Bill Gross is way too high.
The Academy of Television Arts & Sciences is planning a major makeover in advance of its 70th anniversary in 2016 – breaking ground on an ambitious expansion of its facilities, initiating a $40-million fundraising drive and simplifying its name to the more colloquial “Television Academy,” Variety reports.
Prospect Park Networks – the Century City production company launched with high hopes of bringing two canceled ABC soap operas back to life – has filed for Chapter 11 bankruptcy protection, the Los Angeles Times reports.
Sean Combs, the hip-hop mogul now known as Diddy, has bid about $200 million for the Fuse cable-TV channel, sources tell Bloomberg News.
Chobani, the Greek yogurt maker that has grown into a U.S. sensation, is looking to sell a minority stake in a deal that could value the company at around $2.5 billion, sources tell Reuters. But USA Today says the upstate New York company is denying the report.
A takeover of Safeway Inc. at the industry’s lowest valuation in almost a decade may be the best that investors in the second-largest U.S. grocery chain can obtain, Bloomberg News reports.
As U.S. regulators and courts grapple with when and how to allow the use of drones for commercial purposes, flying robots already are starting to change the way companies do business in countries from Australia to Japan to the U.K., the Wall Street Journal reports.
California's Department of Motor Vehicles is wading into the complex question of how to regulate the use of cars that one day will rely on computers – not people – to drive them on public roadways, the Associated Press reports.
In Tuesday morning trading, the Dow Jones industrial average was up 12 points to 16,431. The Nasdaq rose 13 points to 4,348. The S&P 500 rose 2 points to 1,879.
The Bank for International Settlements says the amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis, as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, Bloomberg News reports.
Chiquita Brands International Inc. today said it has agreed to merge with Irish tropical-fruit firm Fyffes to create the world's largest banana company, the New York Times reports. The all-stock deal values Fyffes at about $526 million.
No longer content to let the Westside hog L.A.'s tech spotlight, Pasadena techies are uniting to market the city as a thriving technology hub, the Los Angeles Times reports.
McDonald's saw a key sales figure drop in the U.S. again last month as the world's biggest hamburger chain struggles to beat back competition and adapt to changing eating habits, the Bloomberg BusinessWeek reports.