Los Angeles Business Journal

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12-Year Film Production Unlikely to Stick Around

MOVIES: But executive who financed ‘Boyhood’ ready to bankroll 12-year sequel.Backers of Oscar contender “Boyhood” say its 12-year financial model is unlikely to play a regular role in Hollywood.

By Sandro Monetti February 16, 2015 midnight   $$ Share
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Downtown’s Ace Hotel Sold, Buyer Keeping Brand

The Ace Hotel in downtown L.A.’s Broadway Theater District has been sold for $103 million to Chesapeake Lodging Trust. The Annapolis, Md., real estate investment trust entered into a new management agreement with Ace Hotel Group to continue to operate the hotel.

Live Nation Buys Bonnaroo Music Festival

Entertainment giant Live Nation has increased its portfolio of music festivals by buying a controlling stake in Bonnaroo, one of the largest in the country.

LAX Traffic Continues to Rise

The number of passengers traveling through Los Angeles International Airport continued to climb last month. More than 6 million travelers passed through the airport in March, up 4.2 percent from 5.8 million travelers in the same month in 2014.

Planning Commission OKs Sun Valley Sound Stage Complex

The Los Angeles Planning Commission unanimously recommended on Thursday that a proposed sound stage complex in Sun Valley receive a conditional use permit and required variances from zoning rules.

Disney Pulls Verizon FiOS Ads

Television ads for Verizon’s new pay-TV package service, FiOS Custom TV, have been pulled from Disney-owned channels.

Technicolor, Deluxe Create Joint Venture

Technicolor S.A. and Deluxe Entertainment Services Group Inc. announced Thursday an agreement to create a digital cinema joint venture.

AwesomenessTV Will Launch Channel for Moms

DreamWorks Animation’s AwesomenessTV online teen network will launch a second network later this year aimed at mothers in the millennial generation.

Ares Chief Antony Ressler to Buy Atlanta Hawks

Antony Ressler, the chief executive of Century City private equity and debt firm Ares Management, has agreed to buy the National Basketball Association’s Atlanta Hawks for about $850 million, sources told ESPN.

DirecTV, AT&T Aim to Sweeten Proposed Merger for Regulators

In a quest to make their merger more attractive to the Federal Communications Commission, telecom giant AT&T and El Segundo satellite TV provider DirecTV are stressing to the commission how their combined assets would be beneficial to consumers.

Daily Breeze Wins Pulitzer

The Daily Breeze, the daily newspaper coving Los Angeles County’s South Bay, has won a Pulitzer Prize for local reporting.

Big Movies Strike Big Screen Deal

Imax Corp. and Burbank’s Warner Bros. Pictures have extended their partnership for a further five years with a deal to release up to 30 of the studio’s biggest upcoming films in Imax’s special presentation format.

Katzenberg Takes Pay Cut

DreamWorks Animation SKG Inc. Chief Executive Jeffrey Katzenberg took a 53 percent cut in his salary in 2014 after not receiving performance-based incentives, according to documents filed with the Securities and Exchange Commission.

L.A. Airline Catering Workers Strike Outside Kitchen

Saying they don’t have enough tools or manpower to do their work, about 175 employees of Chicago, Ill. airline catering company Flying Food Group protested Tuesday outside one of the company’s kitchens in Los Angeles.

Location Filming Declines in First Quarter

Location filming in the Los Angeles area dropped 3 percent in the first quarter of 2015, with the biggest decrease coming from feature film production, according to a report released Tuesday by FilmL.A.

Briefs: City Attorney’s Office Closes 500 Medical Marijuana Shops, Lions Gate Entertainment Corp. to launch Comic-Con channel

Feuer Touts Medical Marijuana Store Closures Around 500 medical marijuana shops have been closed by the Los Angeles City Attorney’s office over the past 12 months, City Attorney Mike Feuer announced on Thursday.