DreamWorks Animation Chief Executive Jeffrey Katzenberg is set to receive a $400 million payoff should the studio complete its sale to Comcast’s NBCUniversal, according to the Los Angeles Times. He would also become chairman of the newly formed DreamWorks New Media division with Illumination Entertainment’s Chris Meledandri taking the helm at the animation studio.
California’s high-speed rail authority has released an updated two-year business plan that includes $2 billion worth of improvements to Southern California passenger rail lines, according to the Los Angeles Times. Local concerns arose in February when the agency said it would first build a $21-billion operating segment from San Jose to the Central Valley.
A federal judge in Florida has ruled that Walt Disney Co.’s parks and resorts did not treat guests with autism and other developmental disorders unfairly, according to Deadline. The lawsuit filed two years ago by 16 children and young adults claimed Disney’s Disability Access Service program resulted in long waits and other problems for those visitors.
The L.A. Rams selected Cal Quarterback Jared Goff as the top overall pick in the NFL draft on Thursday. It’s the second time in seven years that the team has selected a quarterback as the No. 1 pick, reports ESPN.
The Dow Jones industrial average fell 48 points in early Friday trading to 17,782. The S&P 500 fell 3 points 2,072. The Nasdaq rose 1 point to 4,806. The LABJ stock index fell one point to 231.
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.