The Breakdown

Explaining Southern California's economy

In SoCal business news: Layoffs at Cox Communications, Mattel to buy Mega Brands

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Happy Friday! Welcome to KPCC's business blog, The Breakdown. Every weekday, we compile a list of interesting business stories in the region.

Cable company Cox Communications plans to lay off up to 650 people in San Diego and Rancho Santa Margarita, according to the Orange County Register. The job cuts are part of an effort to consolidate its call centers, the OC Register reports.

El Segundo-based toymaker Mattel plans to buy Lego competitor Mega Brands Inc. for $460 million, according to Bloomberg

California could lose its status as entertainment industry leader, an economist warns. Kevin Klowden, a managing economist at non-partisan think tank the Milken Institute, said California has lost thousands of film production jobs that have been lured away to other states that offer more tax incentives. He spoke at an event moderated by KPCC's Larry Mantle. Check out my recap of the event here.

Unless you've been living under a rock, you know the Academy Awards are this Sunday! Advertisers are counting on big crowds watching the show. The Los Angeles Times reports that ABC could make "closer to" $95 million in ad revenue.

Do you use Reddit? So do more than 4.5 million senior citizens, according to Vocativ. Vocativ reports Reddit fan CBone727 wrote, "I am 66 and I love this site. Unfortunately, I spend far too much time here each day, but it beats feeding the pigeons."

Got business news? Tweet me @thewendylee and follow my fellow business reporters Brian Watt (@radiobwatt) and Ben Bergman (@thebenbergman).

 

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