3-D BOOST: After a dismal summer for 3-D films, shares of Beverly Hills film technology company RealD Inc. have jumped on a stronger-than-expected opening weekend for the space thriller “Gravity.” The special effects-laden film, co-starring Sandra Bullock and George Clooney, grossed $55.6 million in its opening weekend, exceeding analyst projections of $35 million. Warner Bros., which distributes the film, said 3-D screenings accounted for 80 percent of ticket sales domestically and 70 percent overseas.
CONTRACT: The Los Angeles City Council has voted unanimously to let Anschutz Entertainment Group operate the Los Angeles Convention Center for at least the next five years. The contract includes an annual base fee of $175,000, with bonuses that could take that amount up to $350,000 a year if the L.A. concert and venue promoter meets targets for increasing revenue
and bookings.
PAPERLESS: Walt Disney Co. has announced plans to stop issuing its collectible printed stock certificates. The Burbank entertainment giant joins a growing number of public companies delivering shares only in electronic form. Its paper stock certificates are distinguished by drawings of Disney characters such as Mickey Mouse. In a nod to collectors, Disney said it will offer non-negotiable certificates as a substitute after the change takes effect.
HEALTH CLINICS: UCLA Health System and the Motion Picture & Television Fund have announced plans for UCLA to take over operations and leases on six fund health clinics that serve entertainment industry workers. The 43 primary care physicians at the clinics would join the UCLA Faculty Practice Group, and many also would also become faculty at the university’s David Geffen School of Medicine.
CANCER CARE: City of Hope in Duarte and Providence Health & Services in Renton, Wash., have announced a partnership that will add City of Hope’s cancer care expertise to Providence’s five L.A.-area hospitals, affiliated clinics and physician practices. Under the agreement, City of Hope will help coordinate cancer care at facilities that include Providence Saint Joseph Medical Center in Burbank and Holy Cross Medical Center in Mission Hills.
BLUBBER: The owners of nutritional supplement company Nu-Health Products Co. in Walnut have been indicted on charges of smuggling seal oil capsules from China. A federal grand jury in Los Angeles returned eight indictments against co-owners Denian Fu and Lin Liang on charges of violating the Marine Mammal Protection Act by smuggling capsules from China containing oil from the blubber of harp seals. If found guilty, they could face up to five years in prison and a fine of more than $1 million.
TECH FUNDING: Startup activity in Los Angeles continues at a steady rate in the third quarter, according to a report from tech community group Built in Los Angeles. The report tracked startup creation, funding and acquisitions, and found that 46 startups were formed and 56 were funded. Three companies – DermStore, MySocialCloud and 12Society – were acquired. L.A. companies raised more than $280 million in funding. The largest deals included EdgeCast Networks’ $54 million round and JustFab’s $40 million round.
FILMING ACTIVITY: A sharp increase in feature film production helped boost location filming in Los Angeles during the third quarter. Location production days rose 9.5 percent in the quarter to 11,792, according to FilmL.A. The L.A. non-profit organization, which handles production permitting in the region, said shooting of feature films, which included a movie about Frankie Valli and the Four Seasons called “Jersey Boys,” was up 20 percent to 1,959 production days. But location TV production did not fare as well, falling 3.6 percent to 4,091 days.
PLANT EMISSIONS: The California Department of Toxic Substances Control has reached a deal with Exide Technologies over complaints that arsenic emissions from its Vernon battery recycling plant threatened the health of more than 100,000 people in the surrounding area. Exide will invest $7.7 million in water filters and testing. The agency in turn will not pursue efforts to close the plant. The company filed for bankruptcy this spring so the deal must be approved by the bankruptcy judge in the case.
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