Los Angeles Business Journal


Recent and archived news stories on: Airports, Cruises, Entertainment, Hotels, Gaming, Restaurants, Sports, Sightseeing, Theme Parks...
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Slice of History Fuels Food Fest

Forty eateries to cook up tribute to Pasadena as home of cheeseburger.

Culinary event looks to beef up Pasadena’s claim as the birthplace of the cheeseburger.

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San Diego Chargers Agree to Orange County Office Lease

Although the San Diego Chargers have not yet pulled the plug on their hometown, the team is making plans for a possible move to Los Angeles.

Fortress Investment Group Sells Revolution Studios

Fortress Investment Group of Century City is selling Santa Monica-based Revolution Studios Distribution Co. two years after it acquired the production studio for a reported $250 million.

Virtual Reality Developer Survios Raises $50 Million

Virtual reality video game producer Survios announced on Tuesday that it has raised $50 million in capital over two rounds this year from Metro-Goldwyn-Mayer, Lux Capital, and other investors.

More Tronc Shares Purchased by Soon-Shiong, Ferro

Patrick Soon-Shiong, the second-largest shareholder of L.A. Times parent tronc Inc., has purchased another 98,927 shares of stock in the company on Nov. 29 and Dec. 2 at prices ranging from $12.77 to $13.16, according to a filing with the Securities and Exchange Commission.

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Sports Network Teems With Subscription Issues

TV: Analysts offer advice on how Disney could tackle ESPN’s viewership decline.

Business Journal fields some team analysis on how Disney should handle ESPN and its subscriber decline.

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Soon-Shiong and Ferro Stock Up on Additional Tronc Shares

Michael Ferro, chairman of L.A. Times owner tronc Inc., has purchased an additional 42,126 shares of stock in the company, according to a Nov. 28 filing with the Securities and Exchange Commission. The stock was acquired through Ferro’s investment vehicle, Merrick Venture Management Holdings, at an average cost of $12.93 a share for a total transaction of about $545,000.

HBO’s ‘Ballers’ and Six Other Series Will Move Production to L.A. Area

HBO’s TV series “Ballers” will be moving production for its third season from Miami to Los Angeles, according to the California Film Commission’s Executive Director Amy Lemisch. “Ballers” is the seventh TV series to relocate to California by way of the expanded tax credit program that went into effect in 2015. The show is scheduled to shoot its next 10 episodes in the greater Los Angeles area, where it will employ 135 cast, 209 base crew and 5,700 extras. Production will generate an estimated $33.5 million in “qualified expenditures,” which the commission defines as wages paid to below-the-line workers on the crew, and payments to in-state vendors. Based on these figures, “Ballers” has been conditionally approved for a tax credit reservation of $8.3 million.

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Chinese Food Pioneers Fill Plate

DINING: Cherngs feed growth plan with diverse investments.

Panda Express’ Cherng family has looked beyond Chinese fare to heat up growth prospects.

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Violinist Shed Labels With Music Career

Lindsey Stirling uses YouTube to cue up sales, fan connection.

Violinist Lindsey Stirling has used YouTube to tune up her career without record label support.

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Soon-Shiong Ups Stake in L.A. Times Parent

Patrick Soon-Shiong, the wealthiest person in Los Angeles and the largest shareholder in Los Angeles Times parent tronc Inc., spent the week before Thanksgiving stocking up on more tronc shares.

Participant Media’s TakePart to Shut Down Website Operations

Jeff Skoll’s Participant Media is shuttering its digital division, TakePart. The social impact-focused news website that launched in 2008 and also functioned as a marketing arm for Participant’s film division will no longer operate after the end of this year, according to a source at the company.

Live Nation’s Kayne West Tour Canceled

Live Nation announced on Monday that it was canceling the remaining 21 shows in rapper Kanye West’s “Saint Pablo Tour.” The cancellation came without explanation in a two-sentence press release, which also said that ticket purchasers would receive a full refund. A spokeswoman for Live Nation declined to comment. Though the “Saint Pablo Tour” cancellation was headline grabbing, it’s not likely to have much of an impact on Live Nation’s revenue. The concert series was already partially completed and represents a small portion of the 26,000 events the company manages each year.

AMC Networks Acquires Minority Ownership Stake in Funny or Die

AMC Networks Inc. today announced it had acquired a minority ownership stake in the comedy website Funny or Die Inc., based in Hollywood. The undisclosed investment will allow Funny or Die and AMC – which owns and operates the comedy network IFC – to expand their collaborations so the companies can work together on larger business and creative initiatives that will leverage IFC’s strength in the linear space and Funny or Die’s digital and social presence.

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Middle East Feast

Plan Check Kitchen + Bar joins restaurants looking to give Dubai taste of Los Angeles.

Dubai has become a hot spot for restaurateurs to serve up L.A. concepts in the Middle East.