SAN FERNANDO VALLEY
Advertising Deal: Cinedigm Digital Cinema Corp., a Woodland Hills-based provider of digital services and content to movie theaters, has sold its Waite Park, Minn., in-theater cinema advertising division to Screenvision, a New York-based in-theater cinema advertising company. Cinedigm also signed a deal to promote and distribute sporting events, concerts, shorts, cartoons and branded entertainment through Screenvision. Financial terms of the deal were not disclosed.
Credit Facility: Agoura Hills video game publisher THQ Inc. has entered a four-year, asset-based credit facility with Wells Fargo Capital Finance LLC. The credit facility provides for borrowing up to $50 million for working capital requirements, letters of credit and other general corporate purposes, and increases to $75 million during the upcoming holiday season peak-sales period. In connection with the new facility, THQ terminated its prior $35 million credit agreement with Bank of America.
New Branch: Irvine-based Opus Bank will open a Long Beach location as part of a five-branch expansion in California. The new Long Beach branch will be at 211 E. Ocean Blvd. and is scheduled to open in the fourth quarter of this year.
Advertising Merger: Vantage Media, an El Segundo provider of performance marketing and online ad services, has merged with BrokersWeb, a Miami provider of pay-per-click advertising. The BrokersWeb business will retain its name and all of its management. Financial terms of the deal were not disclosed.
SAN GABRIEL VALLEY
CITY OF INDUSTRY
Stepping In: JP Original Corp., a City of Industry maker of women’s shoes, has paid $9 million for a 131,420-square-foot industrial property in the city. The building, at 19161 E. Walnut Drive, was sold by Unilever, an international consumer goods company based in London.
Taking Off: Aerovironment Inc., a Monrovia maker of unmanned aircraft, has received a $6.9 million order from the U.S. Air Force for its small Raven drone. Aerovironment said the order came under an existing contract. The 4.2-pound Raven is used by the military for reconnaissance, surveillance and target acquisition.
Revenue Stream: DreamWorks Animation SKG Inc., a Glendale movie studio, has signed a multiyear licensing deal with Netflix Inc. to allow the Los Gatos-based movie rental giant to stream DreamWorks Animation’s TV specials and films beginning in 2013. Netflix will be the exclusive subscription TV service for first-run films and select TV specials from the company. Financial terms of the deal were not disclosed.
The article headlined “Risky Business” in the Sept. 26 issue should have said that Wilshire State Bank’s lawsuit against Platinum Wireless Inc. was dismissed in July after the parties reached an undisclosed settlement agreement.
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