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Saturday, Sep 23, 2023

Briefs: Disney, Burbank airport, CrowdGather, Teledyne

For the fifth year in a row, Walt Disney Co. has raised entry prices for Disneyland Park and Disney California Adventure Park in Anaheim. The Burbank entertainment and media company is now charging $96 for a single-day ticket to either park for visitors at least 10 years old, an increase of 4 percent. Last year, Disney raised the entry price by 4 percent to $92. The Deluxe Annual Passport that gives admission to both Anaheim parks for 315 days of the year also rose 4 percent to $519. Parking increased a dollar to $17. “Like any business, we periodically evaluate our pricing and make adjustments based on a variety of factors,” Disney said in a statement. “A ticket to our theme parks represents a great value, particularly when you look at the breadth and quality of attractions and entertainment we offer, and the special moments guests experience with our cast.” Disney shares rose 4 cents, or a fraction of a percent, to $81.09 on the New York Stock Exchange. Burbank Bob Hope Airport puts about $1.8 billion into the local economy, according to a study by the Los Angeles County Economic Development Corp. The airport contributes to the regional economy through commercial and private flight operations, on-site concessionaires and tenants, off-site spending by visitors and flight crews, and capital improvements, the study found. Employment at and near the airport totals about 11,700, with one-third of the positions in transportation and warehousing positions, and a quarter in accommodations and food services. The report acknowledged the struggles the airport has faced over the past several years as flight traffic and passenger counts dwindled amid the recession, and as carriers consolidated operations at larger airports to keep planes full. Passenger activity peaked in 2008 with 5.84 million people coming through the terminal. “This study shows that the impact of the airport to our economy is of major importance, and the information will help guide the authority, the city of Burbank and the community as we continue to build a unified vision of the airport’s future,” said Susan Georgino, president of the Burbank-Glendale-Pasadena Airport Authority, in a prepared statement. Internet forum company CrowdGather Inc. announced Tuesday the completion of its merger with Plaor Inc., a social gaming company in Boston. Under the agreement, Woodland Hills-based CrowdGather paid for Plaor with 55 million shares of stock valued at $5 million. Also, Hazim Ansari, an intellectual property attorney and co-founder of Plaor, has joined the CrowdGather board. CrowdGather manages thousands of forums on diverse topics and plans to incorporate Plaor’s gaming programs into them as a revenue source. The company has struggled to flourish using an ad-based business model. “We believe this merger positions our company to capitalize on much higher growth opportunities in gaming and mobile applications,” said CrowdGather Chief Executive Sanjay Sabnani in a statement. “Additionally, we are excited to have someone of Hazim’s experience join our team.” CrowdGather shares closed up a penny to 12 cents in over-the-counter trading. A subsidiary of Teledyne Technologies Inc. signed an agreement on Tuesday to place an instrument developed by the German Aerospace Center aboard its imaging platform on the International Space Station. Teledyne Brown Engineering Inc., in Huntsville, Ala. will integrate the Earth Sensing Imaging Spectrometer from the German research facility on the Multi-User System for Earth Sensing platform scheduled to launch to the space station in 2015. Teledyne Brown is owned by Teledyne Technologies in Thousand Oaks. The instruments on the platform will be used for mapping and monitoring of forests, oil- and-gas exploration, natural-disaster response and other applications. “The signing of this agreement places Teledyne, Teledyne Brown, and German Aerospace Center at the forefront of the commercial use of the International Space Station,” said Teledyne Chief Executive Robert Mehrabian in a prepared statement. Teledyne shares closed down $2.51, or nearly 3 percent, to $92.79 on the New York Stock Exchange.

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