Good morning! Welcome to KPCC's business blog, The Breakdown. Every weekday morning, I'll compile a list of interesting business stories affecting Southern California.
- RadioShack said it plans to close up to 1,100 underperforming stores nationwide, according to the Wall Street Journal. The retailer reported a net loss of about $191 million in the fourth quarter.
- TV's future? Disney signs on for ad-skipping, web-based Pay TV, according to Ad Age. Under the deal, Dish agreed to "disable" its "AutoHop" DVR, which lets customers skip ads during the first three days after an episode airs, Ad Age reports. The agreement is significant as networks look for new ways to gain revenue besides traditional ads. Ad Age also reports that CBS plans to sell new commercials inside old episodes available on demand.
- Los Angeles developer Jerry Snyder is feeling bullish about the area's prospects. Bloomberg reports Snyder, 84, has $600 million worth of projects planned or under construction.
- Last week, I reported on a Milken Institute report that said New York is California's biggest competitor in the nation for film and TV production. New York offers $420 million a year in film tax credits, compared to California's $100 million a year. There's been efforts by legislators to increase California's program to stop runaway production.
- So how exactly are things going in New York? It's hard to say, according to The Post-Standard. State officials won't give the newspaper details on how much tax money was given to productions last year.
- Hollywood's early 2014 Oscar gains mask looming challenge, Bloomberg reports. It will be tough to beat strong results in 2013, according to Bloomberg.
- An effort to bring the Formula One race to Long Beach could be costly for the city, according to the Press-Telegram. It may require $50 million to $100 million in expenditures to update and prepare the city, as well as a race hosting fee, the Press-Telegram reports.
- Tribune Co., the corporate parent of the Los Angeles Times, invested $700,000 in news website Mashable, according to Re/code. The deal comes as Tribune plans to spin-off its newspapers into its own separate company.
- Los Angeles Register reporters have been seen around L.A. City Hall, according to LA Observed. Below is a tweet from Dakota Smith, a reporter with the Los Angeles Daily News.
The two new L.A. City Hall reporters for forthcoming L.A. Register newspaper just came into our office to introduce themselves. Game on!— Dakota Smith (@dakotacdsmith) March 3, 2014
- You may have seen yesterday's headline in The Daily Breeze that said "'Slave' becomes master" in reference to "12 Years A Slave" winning best picture. An executive from Digital First Media's Los Angeles News Group called that headline "tacky, ridiculous and stupid," according to Poynter.
Got business news? Tweet me @thewendylee.