CEO LEAVING: DirecTV Group Inc. Chief Executive Chase Carey will leave the El Segundo satellite TV provider July 1 to become vice chairman and chief operating officer at News Corp. Carey, who has been DirecTV's CEO since 2003, is a former News Corp. executive vice president who helped launch Fox Sports and Fox News Channel. Carey will replace Peter Chernin, who announced in February that he would leave News Corp., which held a controlling stake in DirecTV until it swapped its stake with Liberty Media Corp. last year. Liberty is in the process of merging several of its media properties to create a company that will retain the DirecTV name.
MOZILO CHARGED: The U.S. Securities and Exchange Commission charged former Countrywide Financial Corp. Chief Executive Angelo Mozilo and two other former executives with civil fraud for failing to disclose to shareholders the deteriorating state of the mortgage business. The lawsuit filed in federal district court in Los Angeles alleges that Mozilo, former Chief Operating Officer David Sambol and former Chief Financial Officer Eric Sieracki issued knowingly false reassurances to shareholders as the company became saddled with risky mortgage loans between 2005 and 2007.
NEW CEO: Burbank online horse racing and horse betting site YouBet.com Inc. said Chief Operating Officer David Goldberg has been named chief executive, effective immediately. Goldberg succeeds Michael Brodsky, who will become executive chairman. Goldberg joined the company in August from Ticketmaster, where he was executive vice president in charge of sales and marketing, mergers and acquisitions, and business development.
ACQUISITION MADE: K-Swiss Inc. said it is acquiring a remaining 43 percent equity interest in French shoemaker Palladium SAS for about $7.1 million. K-Swiss, which makes sneakers and casual shoes, acquired a 57 percent interest in the French company in 2008. K-Swiss plans to launch the Palladium brand in the United States in July.
NEW FINANCING: XCast Labs Inc., a Century City technology company, said that it has closed a $2.7 million financing round led by Santa Monica boutique investment banker Siemer & Associates LLC. Investors in the round, which include Frontera Capital and members of the Pasadena Angels, see XCast, whose technology will be interoperable with the popular VoIP software Skype, as a way to gain a piece of the growing market for residential and business voice-over-Internet services.
NEW MODEL: Santa Monica startup Miles Electric Vehicles Inc., which imports electric vehicles from China, has unveiled a five-passenger, all-electric sedan that it hopes to launch in the U.S. market in 2010. The Coda is expected to have a range of 90 to 120 miles and cost about $45,000. The car and its lithium ion phosphate batteries will be primarily manufactured in China and sold only in California for at least the first year. Miles executives said they are creating a new company, Coda Automotive, to oversee the manufacture and sale of the vehicle.
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