Los Angeles Business Journal


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Vivendi May Sell Remaining $856 Million Stake in Activision

Santa Monica video game publisher Activision Blizzard Inc. said in a regulatory filing today that Vivendi, its former French owner, may now sell its remaining $856 million stake in the company.

Disney Names Staggs COO, Potential Iger Successor

Studio veteran Thomas Staggs was named Thursday as chief operating officer at Walt Disney Co. – a promotion that puts him in line to succeed Robert Iger as the next leader of the Burbank media and entertainment giant.

Sony Studio Chief Steps Down

Sony Pictures co-chair Amy Pascal is stepping down in the wake of the hack attack on the studio that became a global incident. She will remain on the studio’s Culver City lot to start her own production company, which is to be financed by Sony.

Disney Shares Hit All-Time High

Shares in Walt Disney Co. hit a new all-time high Wednesday, the day after the reporting strong quarterly earnings.

Hotel Manager Warnick Merges with CHM

Century City hotel management firm Warnick + Co. has merged with competitor CHM of Beverly, Mass., to form CHMWarnick, the companies announced Tuesday. The combined company has a client portfolio of 54 properties with 23,000 rooms, representing roughly $8 billion in hotel assets.

OpenGate Portfolio Company PennySaver USA Cuts Distribution

Brea discount mailer company PennySaver USA, a portfolio company of Century City private equity firm OpenGate Capital, announced Monday that it would cease distribution to several areas, mainly in Northern California’s East Bay and South Bay regions.

Disney Earnings Beat Estimates

The financial bonanza to Walt Disney Co. from its blockbuster animated hit “Frozen” appears not to be melting anytime soon.

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Airport Exec Lindsey to Retire

Gina Marie Lindsey, who’s led Los Angeles World Airports for nearly eight years as executive director, said she will retire this spring "to move on to other adventures."

L.A. County Disputes AHF Allegations

Los Angeles County is disputing allegations by the AIDS Healthcare Foundation that it is failing to enforce Measure B, which requires mandatory condom usage on adult film shoots, by not collecting permit fees from production companies.

AHF Demands L.A. County Enforce Condom Law

The AIDS Healthcare Foundation sent a letter this week to Los Angeles County officials asking that the county begin enforcing mandatory condom usage for adult film shoots – or face legal action.

Investments Keep Daily Journal in Black

Daily Journal Corp. saw its operating income slide into the red in its last quarter, but eeked out a profit thanks to its investment portfolio.

Lions Gate in Talks with Chinese Broadcaster About $1.5 Billion Deal

Santa Monica’s Lions Gate Entertainment is in advanced talks with China’s second-largest broadcaster, Hunan TV & Broadcast Intermediary Co., about a deal that would see the companies invest a combined $1.5 billion in film production and distribution over a three-year period.

LAX Sees Record 2014

Last year was the busiest ever for Los Angeles International Airport, breaking the record it set all the way back in 2000, airport officials said Tuesday.

Voice Media Selling OC Weekly, Keeping LA Weekly

Voice Media Group, which publishes LA Weekly, OC Weekly and other alt-weekly properties, hired Santa Fe, N.M., investment bank Dirks Van Essen & Murray to “explore new strategies,” including the sale or acquisition of its publications, the company announced Tuesday afternoon.

Injunction Seeks to Block L.A. From Implementing Hotel Wage Law

Two trade groups representing large hotels in Los Angeles announced they have filed for a preliminary injunction to block the city from implementing its hotel wage hike until their lawsuit against the city is resolved.