Comcast’s NBCUniversal has reached agreement to buy DreamWorks Animation in a deal that puts an equity value of $3.8 billion on the studio, reports CNBC. Under the terms of the deal, DreamWorks chief executive Jeffrey Katzenberg will become chairman of DreamWorks New Media and a consultant to NBCUniversal. The acquisition would still need regulatory approval.
Los Angeles billionaire Patrick Soon-Shiong was given a compensation package last year worth almost $148 million by his biotech firm NantKwest, according to a stock filing Wednesday. The package makes him one of the highest paid executives in the country, reports the Los Angeles Times.
Jessica Alba’s Honest Co. is again being accused of false labeling – this time over its baby formula. According to CNN Money, the Organic Consumers Association has filed a lawsuit claiming the Playa Vista company falsely labels its Premium Infant Formula as “organic.”
It’s a huge day for the Los Angeles Rams as the team prepares to pick first in the NFL draft. Quarterback Jared Goff is the favorite to be selected, reports the Los Angeles Times.
Los Angeles radio personality Dr. Drew Pinsky, who has hosted “Loveline” for more than 30 years, will broadcast its final show tonight on KROQ-FM. According to Entertainment Weekly, he wants to focus more time on his family and other projects.
The box-office success of latest James Bond film “Spectre” couldn’t prevent a big drop in profits for Sony Pictures Entertainment. Full-year profits for the Culver City-based film unit were down 34 percent, according to the Hollywood Reporter.
The Los Angeles County Museum of Art has received two huge donations, reports the Los Angeles Times. Elaine Wynn has pledged $50 million and billionaire A. Jerrold Perenchio has donated $25 million toward renovations plans.
The upcoming trial over who controls ailing media tycoon Sumner Redstone’s health care will be open to the public, a Los Angeles Superior Court judge has ruled, reports Deadline Hollywood. “In this country we have open trials. This is not Russia,” said Judge David Cowan.
The Dow Jones industrial average fell 74 points in early Thursday trading to 17,968. The S&P 500 fell 3 points to 2,092. The Nasdaq rose 7 points to 4,870. The LABJ stock index fell one point to 233.
Comcast is in talks to acquire DreamWorks Animation. Citing sources, The New York Times reports the deal would value DreamWorks at roughly $3 billion and allow Comcast to combine the company with its own animation division, Illumination Entertainment, and develop a toehold in China, where DreamWorks has made headway.
In addition to a fight over newspapers, Tribune Publishing and Gannett Co. are in a war of words. On Tuesday, Tribune Publishing Chairman Michael Ferro criticized the publisher of USA Today for “trying to steal the company” and pressed for board acceptance of a strategic plan for Tribune before a June 2 shareholders’ meeting, the Los Angeles Times reports.
Lawyers for the estate of Randy California suing Led Zeppelin for copyright infringement over the song “Stairway to Heaven” are willing to settle, but their idea may not be palatable to the band. According to Bloomberg, they offered to settle for $1 if California were given writing credit on the song going forward, a potentially lucrative concession. The case is set for trial in Los Angeles this summer.
Universal could lose as much as $70 million on its “The Huntsman: Winter’s War” release. Home video could cut those losses, Variety reports, but the film is expected to reach just $200 million in global box office.
The Board of Supervisors suspended all official travel to North Carolina, citing the state’s passage of a bill restricting the use of bathrooms transgender people can use in public facilities, the Los Angeles Times reports.
The Dow Jones industrial average fell 34 points in Wednesday trading to 17,956. The S&P 500 fell 4 points to 2,087. The Nasdaq fell 45 points to 4,843. The LABJ Stock Index fell one point to 234.