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Michael Ferro, chairman of L.A. Times owner tronc Inc., has purchased an additional 42,126 shares of stock in the company, according to a Nov. 28 filing with the Securities and Exchange Commission. The stock was acquired through Ferro’s investment vehicle, Merrick Venture Management Holdings, at an average cost of $12.93 a share for a total transaction of about $545,000.
HBO’s TV series “Ballers” will be moving production for its third season from Miami to Los Angeles, according to the California Film Commission’s Executive Director Amy Lemisch. “Ballers” is the seventh TV series to relocate to California by way of the expanded tax credit program that went into effect in 2015. The show is scheduled to shoot its next 10 episodes in the greater Los Angeles area, where it will employ 135 cast, 209 base crew and 5,700 extras. Production will generate an estimated $33.5 million in “qualified expenditures,” which the commission defines as wages paid to below-the-line workers on the crew, and payments to in-state vendors. Based on these figures, “Ballers” has been conditionally approved for a tax credit reservation of $8.3 million.
DINING: Cherngs feed growth plan with diverse investments.
Panda Express’ Cherng family has looked beyond Chinese fare to heat up growth prospects.
Patrick Soon-Shiong, the wealthiest person in Los Angeles and the largest shareholder in Los Angeles Times parent tronc Inc., spent the week before Thanksgiving stocking up on more tronc shares.
Jeff Skoll’s Participant Media is shuttering its digital division, TakePart. The social impact-focused news website that launched in 2008 and also functioned as a marketing arm for Participant’s film division will no longer operate after the end of this year, according to a source at the company.
Live Nation announced on Monday that it was canceling the remaining 21 shows in rapper Kanye West’s “Saint Pablo Tour.” The cancellation came without explanation in a two-sentence press release, which also said that ticket purchasers would receive a full refund. A spokeswoman for Live Nation declined to comment. Though the “Saint Pablo Tour” cancellation was headline grabbing, it’s not likely to have much of an impact on Live Nation’s revenue. The concert series was already partially completed and represents a small portion of the 26,000 events the company manages each year.
AMC Networks Inc. today announced it had acquired a minority ownership stake in the comedy website Funny or Die Inc., based in Hollywood. The undisclosed investment will allow Funny or Die and AMC – which owns and operates the comedy network IFC – to expand their collaborations so the companies can work together on larger business and creative initiatives that will leverage IFC’s strength in the linear space and Funny or Die’s digital and social presence.
Plan Check Kitchen + Bar joins restaurants looking to give Dubai taste of Los Angeles.
Dubai has become a hot spot for restaurateurs to serve up L.A. concepts in the Middle East.
Lionsgate reported a 34 percent increase in revenue from last year in its third quarter earnings report on Wednesday, likely the last before the consummation of its merger with Starz.
A Look Ahead: What’s on the agenda for Los Angeles business in the coming week
While the Los Angeles Dodgers’ baseball season ended last month, the second season of the club’s three-month accelerator program is nearing its grand finale.
INTERNET: Acquisition of celebrity-guided ventures can bring niche audiences.
Mainstream media companies hope to tap star power by picking up celebrity-run websites.
In a deal that will speed up repairs to the aging Queen Mary and spur development on the surrounding 43 acres, the Long Beach City Council on Tuesday approved a new lease with real estate investment firm Urban Commons.
Angelenos aren’t the only ones upset that they were blocked from watching Dodger baseball for the last three seasons. The U.S. Department of Justice (DOJ) filed an antitrust suit in federal court on Wednesday against DirecTV Group Holdings LLC and AT&T Inc., alleging that the companies illegally shared information with competitors during negotiations to carry SportsNet LA, the exclusive Dodgers broadcast launched by the team and Time Warner Cable in 2014.
The results are in from the first full year of California’s latest film and television tax credit program, established to stem the flow of filming outside of the state, and they appear to show a good return on investment.