Stories for March 2019

Friday, March 29

Independent Movie Studio Leases Valencia Warehouse

An unidentified independent studio operator with an existing Santa Clarita Valley presence has signed a new 166,359-square-foot lease at Rockefeller Crossing.

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Three Stores Open at Camarillo Premium Outlets

Three new retailers will open shop in the next few days at Camarillo Premium Outlets.

AeroVironment Hardware on Mars Helicopter Completes Test Flight

A helicopter bound for Mars completed test flights in a vacuum chamber at NASA Jet Propulsion Laboratory in La Cañada-Flintridge.

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Preview: Disney's Big Deal

$71 billion acquisition makes Valley's largest company even larger.

Preview: Indy 500 Puts Face on Afrezza

Race driver to promote MannKind's insulin.

Thursday, March 28

Construction Begins on Glendale Holiday Inn

A Glendale gym at 1001 E. Colorado St. has been demolished to make way for the construction of a new Holiday Inn & Suites hotel, now underway.

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Vintage Grocers to Close in Westlake Village

Vintage Grocers is closing its Westlake Village location resulting in job losses for 65 employees.

Princess Commissions Construction of Two Next-Generation Cruise Ships

Princess Cruises has signed contracts with Italian shipbuilding company Fincantieri for the construction of two next-generation cruise ships.

HemaCare Partnership Aims to Accelerate Research Timeline

HemaCare Corp. has entered into a partnership with Tissue Solutions Ltd. to supply customers with a wider range of disease-state biomaterial for research.

Wednesday, March 27

Burbank’s Entertainment Partners Acquired

Entertainment Partners has reached an agreement to be acquired by a private equity firm.

Salem Renews Contract with Mike Gallagher

Salem Radio Network has extended its contract with radio host Mike Gallagher through 2023.

Urgent Care Opens Near Calabasas

The UrgentMED Network has announced the opening of its Calabasas Urgent Care location, which actually is in Woodland Hills.

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Hilton Foundation Hires First PR Chief

Marshall Stowell will serve as the Conrad N. Hilton Foundation’s first-ever vice president for communications, the organization announced Wednesday.

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Tuesday, March 26

NoHo Development With 27 Homes Breaks Ground

Los Angeles real estate developer Verono Homes has begun building its first project in North Hollywood, called Outline at NoHo.

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B. Riley Sets Up New Credit Platform

Investment advisory firm B. Riley Capital Management, a subsidiary of Woodland Hills-based B. Riley Financial, has set up a new credit division called Gateway Credit Partners.

Hollywood Burbank Airport Holds Meeting on New Terminal

Hollywood Burbank Airport is hosting a public meeting on Wednesday about the new replacement terminal project.

Monday, March 25

Facebook Hosts Business-Building Forum in San Fernando

Facebook Inc. hosted a forum called “Boost Your Business” in conjunction with the San Fernando Chamber of Commerce, in the city of San Fernando Monday morning.

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Uber and Lyft Drivers Strike Over Pay Cuts

Drivers for ridesharing services Uber and Lyft are striking today in Los Angeles and parts of Orange County to protest recent cuts to their per-mile revenue.

ServiceTitan to Occupy Former Nestle Space in Glendale

ServiceTitan Inc. is expanding into a Glendale office building once occupied by Nestle USA.

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BNK Petroleum Reviews ‘Strategic Options’

BNK Petroleum Inc. has started “a formal process to identify and evaluate strategic options,” including a possible sale or merger of the company.

Friday, March 22

Rex Home Brokerage Expands on East Coast

Digital real estate brokerage Rex is expanding its service to Philadelphia, southern New Jersey and, soon, Delaware.

Los Robles Hospital Buys Surgery Robot

Los Robles Hospital and Medical Center has spent $1 million to purchase a Stryker Mako Robotic-Arm for its Thousand Oaks Surgical Hospital.

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Thursday, March 21

Bedfellows Building in Studio City Sold

A Studio City retail building located at 12250 Ventura Blvd. that was most recently home to the mattress business Bedfellows has sold for an undisclosed price.

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Dyve Study Finds Relief for Gout Pain

Dyve Bioscience reported positive results for a study to reduce pain associated with gout.

Semtech Creates Circuit for Radio-Enabled Hearing Aid

Semtech Corp. has partnered with Swiss hearing aid manufacturer Sonova Holding AG on a new device that uses the company’s long-range, low-power technology.

Tudor Office Building Sells for $5.4 Million

The Tudor office building in Woodland Hills has sold for $5.4 million, or $228.68 per square foot.

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Wednesday, March 20

Three People Injured in Canoga Park Industrial Explosion

Three people were injured after an explosion rocked a Canoga Park industrial area Wednesday that collapsed part of the building’s roof and tore through three units.

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Endonovo and SunMed Partner on Medical Device Distribution

Woodland Hills’ Endonovo Therapeutics has partnered with SunMed, a medical equipment distributor and claims company in Valencia, to distribute medical devices.

Cinedigm Shares Gain on Chinese Movie Deal

Shares of Cinedigm Corp. gained more than 5 percent Wednesday in the next trading session after the company announced a deal to distribute Chinese movies.

Disney Closes $71 Billion Fox Acquisition

Walt Disney Co. on Wednesday closed on its $71.3 billion acquisition of the media assets of 21st Century Fox.

Valley Home Sales Reach Record Low as Prices Fall

The number of homes sold last month in the San Fernando Valley reached a record low for February, even as inventory expanded and prices softened, according to a report from the Southland Regional Association of Realtors.

Tuesday, March 19

Teledyne Subsidiary Secures F-35 Contract

A business unit of Teledyne Technologies Inc. has received a contract of more than $20 million to continue its support of the F-35 Lightning II fighter aircraft.

Former Amazon, Microsoft Exec Joins BlackLine Board

A former Amazon.com Inc. and Microsoft Corp. executive will join the board of BlackLine Inc.

Salem Media Acquires PJ Media

Salem Media Group announced Tuesday the acquisition of PJ Media.

Funrise Launches Toy Line Based on ‘Wonder Park’ Movie

Funrise Inc. has acquired the rights to design, manufacture and distribute toys based on “Wonder Park,” a film by Paramount Animation and Nickelodeon Movies.

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Monday, March 18

Bank of America to Hire 300 Bankers in Greater L.A. Region

Bank of America of the Greater Los Angeles Region plans to hire as many 300 bankers across all of its business lines over the next three years, according to the bank’s top executive in the region.

Nurses Ratify Contract with Pacifica Hospital

After months of negotiations and a near strike earlier this month, the nurses of SEIU Local 121 RN have ratified their contract with Pacifica Hospital of the Valley on Monday.

Warner Bros. Entertainment CEO Steps Down

Kevin Tsujihara is stepping down as chief executive of Warner Bros. Entertainment, according to media reports.

Dine Brands to Open IHOP Locations in Pakistan

Dine Brands Global Inc. has made a deal to open International House of Pancakes locations in Pakistan.

AROUND THE VALLEYS

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

Chair Man of Virtual Reality’s Hardware Shop

Special Report: Entertainment

Jeffrey Travis, of virtual reality hardware firm Positron.

Valley Brand Involved in A Saucy Sale

Calabasas Capital advises seller of Bob’s Big Boy dressings.

Financial advisory Calabasas Capital has closed a deal to sell a brand with Valley roots: Bob’s Big Boy Salad Dressings and Sauces.

Alternate Futures

Special Report: Entertainment

Despite costly headsets and motion sickness, Valley companies involved in virtual reality see a market opportunity ahead for enhanced entertainment.

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Cybersecurity a New Risk for Insurance Agencies

LIST: Identifying threats to intangible assets such as data presents a challenge.

Ranked by 2018 Valley-area revenue.

Americana Developer’s Montecito Venture

HOSPITALITY: Caruso opens reimagined luxury hotel overlooking prime beach.

Caruso opens luxury Montecito hotel.

Biotech Incubator

Alfred Mann Foundation hopes to expand mission by helping existing life science firms improve their technology.

The Alfred Mann Foundation, which has developed its own breakthroughs in medical technology for the last 35 years, wants to expand by helping outside companies as part of a new business incubator.

Rock’s Bullhorn

Mitch Schneider has promoted some of the music industry’s biggest acts, from the Sex Pistols to Ozzy Osbourne to Tom Petty.

Music industry publicist Mitch Schneider.

Cinedigm Regains Nasdaq Compliance Twice

MEDIA: Market rebound raises distributor’s share price and capitalization.

So far this month, Cinedigm Corp. has managed to regain compliance with two rules to keep its shares on the Nasdaq.

Culture Shocks

FINANCE: B. Riley’s acquisition of two investment banks results in some costly personnel cuts and restructuring charges.

Woodland Hills-based B. Riley Financial Inc. closed two high-profile acquisitions in 2017

New Route to Las Vegas From Burbank Airport

CARRIER: Spirit Airlines will begin three-times-a-day flights starting June 20.

Spirit Airlines starts service from Hollywood Burbank Airport.

Valley Presbyterian Unveils Emergency Facility

HOSPITAL: $14 million expansion promises to expedite rapid care.

Valley Presbyterian opens new emergency department.

CRC Boosts Santa Clarita Cowboy Fest

Contest to recognize retailers for wild western decoration.

California Resources Corp. has signed on as presenting sponsor for the Santa Clarita Cowboy Festival.

Sunday, March 17

How Data Drive Sales for Dealers

AUTOMOTIVE: Software makers partner to reach wider market.

MarketScan, a Camarillo producer of automotive financing software, has forged an alliance with Dallas counterpart StoneEagle to parlay their respective strengths into improving their services.

Friday, March 15

STX Raises Funding, Names Executive

STX Entertainment this week announced $700 million in new capital from a Series B investment round.

Cinedigm Buys Video Network

Cinedigm Corp. has added to its streaming footprint with the acquisition of a Northern California video-on-demand channel network.

Amgen Aims to Reach Wider Market with Repatha

Amgen Inc. could greatly expand its market for cholesterol drug Repatha if an upcoming study is successful.

Fashion e-Commerce Site Signs Up With Westlake Village Robotics Firm

InVia Robotics has sold its automated robot and management system to a warehouse of e-commerce fulfillment business in Reno, Nev.

Preview: Alternate Futures

Marketers, gamers and doubters get their heads around virtual reality.

‘Can’t Be Too Bullish’ on Economy

In case you didn’t see our last issue, the one dated March 4, you missed a true day brightener. If you live or work in the San Fernando Valley, that is.

Marketing Lessons From Our Pets

Marketing lessons from pets.

Thursday, March 14

Report Cites SoCal Edison Wires as Cause of Thomas Fire

The Ventura County Fire Department on Wednesday issued a report saying that arcing of wires owned and operated by Southern California Edison caused the massive 2017 Thomas Fire in Ventura and Santa Barbara Counties.

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Muse School to Expand by Franchising in California

Education system Muse Global has been approved to offer franchises in cities throughout California.

American Environmental Group Acquired by McLarens

American Environmental Group, a consulting firm in Westlake Village, has been acquired by global insurance provider McLarens.

MannKind Sponsors Indy 500 Racer

MannKind Corp. will be sponsoring race car driver Conor Daly when he debuts with the Andretti Autosport team at the Indy 500 in May.

Wednesday, March 13

Salem Swings to Loss in Q4

Salem Communications Corp. swung to a loss in the fourth quarter, sending shares down.

Original Café Bizou Announces Closure

Café Bizou, a long-standing French restaurant in Sherman Oaks, has announced it will close at the end of the month. The restaurant will serve its last meal on March 31, closing out a 25-year run.

Amgen Partners With Jay Leno on Cholesterol Campaign

Amgen Inc., with the help of comedian and television host Jay Leno, has launched Cholesterol 911, a national initiative to reduce cardiovascular disease.

Tuesday, March 12

Branded Entertainment Reports Record Revenue

Branded Entertainment Network closed 2018 with its highest annual revenue ever, up 52 percent from its 2017 performance, the company announced Tuesday.

Providence, Cedars-Sinai Create Joint Venture for Tarzana Hospital

Providence St. Joseph Health and Cedars-Sinai have agreed to create a joint venture to own and operate Providence Tarzana Medical Center.

Jewish Home Opens Brandman Research Institute

Reseda’s Los Angeles Jewish Home opened a new research facility for geriatric health issues, the facility announced Monday.

Spirit Airlines to Fly to Hollywood Burbank Airport

Spirit Airlines will begin service in June between Hollywood Burbank Airport and McCarran International Airport in Las Vegas.

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Monday, March 11

Newhall Retail Center Sells for $2.5 Million

A multi-tenant retail property in Newhall has sold in an all-cash transaction for $2.45 million, or $389 a square foot.

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Bank of America Boosts Support for VEDC Funding Source

Valley-area woman-owned small businesses will get access to additional affordable loans after Bank of America announced Friday that it is doubling its capital investment in the Tory Burch Foundation to $100 million.

Laura Gallardo Named COO for Kaiser Permanente in Panorama City

Kaiser Permanente Panorama City Medical Center has named Laura Gallardo as its new chief operating officer.

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Friday, March 8

Northridge Facility to Produce Defense Missile System

Northrop Grumman has received a $322 million contract from the U.S. Navy to produce a new rocket motor for a variant of its advanced anti-radiation guided missile system.

Weak Quarter Sends Qualstar Shares Lower

Qualstar Corp. had weak results in the fourth quarter but showed improvement for the full year.

Commercial Real Estate Awards Honors Valley's Best

San Fernando Valley Business Journal handed out its Commercial Real Estate Awards Thursday night during a dinner event held at the Hilton Woodlands Hills hotel.

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Valley Presbyterian Unveils Remodeled Emergency Department

Valley Presbyterian Hospital held a ribbon-cutting ceremony Friday for the newly restructured emergency department. The space, which initially was scheduled to take two years, ended up taking four years for construction to be completed.

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Thursday, March 7

Business Journalist Examines Region at Cal Lutheran Event

Henry Dubroff — the founder, editor and the entrepreneur behind Santa Barbara-based Pacific Coast Business Times — discussed the evolution of corporate culture in the region in a presentation Wednesday at Lundring Events Center, located on the California Lutheran University campus in Thousand Oaks.

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B. Riley Reports Fourth Quarter ‘Dampened’ by Market Volatility

B. Riley Financial on Tuesday reported fourth quarter earnings lower than the previous year on account of the stock market's wild ride near the end of 2018.

BlackLine Selects Chief Accounting Officer

BlackLine Inc. has promoted Patrick Villanova to chief accounting officer, the company announced Thursday.

Disney Shareholders Elect Board

Walt Disney Co. shareholders elected or re-elected nine members to the board at the annual meeting Thursday in St. Louis.

Wednesday, March 6

VICA Hears Update on Hangar Events at Van Nuys Airport

The Aviation Committee of the Valley Industry & Commerce Association received an update Wednesday on efforts to allow public events in aircraft hangars at Van Nuys Airport.

Rain Storms Delay Shopping Center Opening in Porter Ranch

A series of rain storms has delayed the official rollout of Porter Ranch shopping center The Vineyards, which was originally scheduled to begin opening stores this week.

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Investor Purchases Apartments Near CSUN for $7 Million

A private investor has acquired a 29-unit apartment building in Northridge for $6.95 million, or $239,655 per unit.

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Cinedigm Regains Compliance With Nasdaq Rule

Cinedigm Corp. has regained compliance with a Nasdaq rule requiring its shares to have a minimum market capitalization of $15 million.

Tuesday, March 5

Teledyne Equipment Launches Aboard Airbus Satellites

Teledyne Technologies Inc. announced Tuesday that its defense and space business unit developed critical payload equipment for the Airbus OneWeb satellite internet constellation.

Reseda Ambulance Center Site Sells for $2.2 Million

A Reseda site used as an ambulance dispatch center has been sold for $2.2 million, or $362 per square foot.

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Tix Returns to Selling Cirque du Soleil Tickets

Tix Corp. has returned to selling discounted tickets to Cirque du Soleil shows at MGM Resorts International in Las Vegas.

AeroVironment Beats Wall St. Expectations

AeroVironment Inc. beat Wall Street expectations on earnings and matched on revenue in the fiscal third quarter.

Monday, March 4

Cannabis Growers Buy Capstone Turbines

Capstone Turbine Corp. has received orders for its micoturbines from two California cannabis growing operations.

Greater Conejo Chamber Holds Beatles-Themed Gala

Greater Conejo Chamber of Commerce held its 2019 Recognition Gala fundraiser Friday at the Hyatt Regency Westlake, with the theme "Come Together for an Evening with the Beatles."

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Avery Dennison CEO Assumes Chairmanship

Avery Dennison Corp.’s Chief Executive Mitch Butier has been chosen as the new chairman of the board at the label and packaging material manufacturer.

A Business Group That May Thrive

If you follow the business community, you’ve probably seen a number of single-issue groups form to fight a law or advocate for something.

Candid Job Talk

Special Report: Law

Karen Gabler of law firm LightGabler.

Coming Soon to an Upgraded Theater Near You

LIST: A rush to remodel and develop performance arts venues in the Valley.

Upgrades at performance facilities.

Supporting Mothers

Regarding the Feb. 18 One More Time column

Economist: ‘We Simply Don’t Build Enough’

EVENT: Industrial space shortage remains a challenge in Conejo.

Cal Lutheran economist gives forecast.

The True Problem

The beginning of every year prompts a flood of new ideas from California’s state legislators, and obviously, I’m grateful to them.

Legal Traps at Work

Special Report: Law

Changes in employment law affect the workplace.

Mopping Up the Woolsey Fire

DISASTER: Damage restoration firms busy in aftermath.

Businesses recover from the Woolsey Fire.

Architecture Firm for the Average Homeowner

CONSTRUCTION: Vans bring design to the middle class.

EZPlans delivers mobile architecture.

Beer’s Name Honors Local Chamber CEO

Craft brewer says cheers for helping during startup phase.

Beer named after chamber chief executive.

The Number

Ventura County’s military personnel.

New Sunrise in NoHo

AUTOMOTIVE: Upgraded showroom offers advantage in competitive Ford market.

Sunrise Ford completes $24 million makeover.

Dine Brands Lookin’ Good in the Neighborhood

RESTAURANTS: Share price jumps on strong fourth quarter revenue growth.

Dine Brands sees strong fourth quarter.

Glendale Rent Rules Rub Landlords Wrong Way

RESIDENTIAL: City council tries to balance interests of owners and tenants.

Landlords bristle at new Glendale rent rules.

PR to Mass Production

Genna Rosenberg’s marketing agency for toys ventures into new product development.

Toy PR group enters product development.

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Startup to Insure Driverless Cars

FINANCE: Avinew attracts $5 million in seed money from venture capitalists.

InsureTech startup Avinew targets driverless cars.

Candy Store’s Flagship Site Fizzles in Camarillo

CLOSURE: But Rocket Fizz chain retains 100-plus locations across country.

Flagship Rocket Fizz flops in Camarillo.

Stoked Broker

Lewis Horne, president of CBRE Group’s Pacific Southwest Divison, thinks the commercial real estate market has ‘never been better.’

Lewis Horne of CBRE Group.

Friday, March 1

Preview: Legal Traps at Work

Attorneys discuss recent changes in employment law – and the liability landmines they present for managers and companies.

Massive Solar Installation Opens in Sun Valley

A 2.6-megawatt rooftop solar array has been installed on top of a warehouse in Sun Valley.

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Saban Capital Cancels Panavision Purchase

One of the biggest entertainment acquisitions announced last year has been canceled.

Pacifica Hospital Avoids Nurses Strike

A planned 10-day strike has been called off at Pacifica Hospital of the Valley in Sun Valley, the hospital announced Thursday.

Kaiser Permanente Renews Lease in Valencia

Kaiser Permanente has renewed its lease for nearly 11,000 square feet of medical office space in Valencia.

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