The Breakdown

Explaining Southern California's economy

In SoCal business news: Dodgers channel negotiations stumble, NUVOtv to buy Fuse Network

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

  • Time Warner Cable says DirecTV walked away from negotiations over the Dodgers channel (KPCC). DirecTV tells KPCC's Ben Bergman, "Nothing could be further from the truth." Meanwhile, the Dodgers channel SportsNet LA's ratings are lower compared to first two games last season on Prime Ticket (Los Angeles Times).
  • NUVOtv plans to buy Fuse TV from Madison Square Garden Co. for $226 million in cash and give MSG a 15 percent equity in the combined company (Bloomberg). Bloomberg's Andy Fixmer and Stephanie Ruhle say L.A.-based NUVOtv has an audience of more than 32 million households. Jennifer Lopez is chief creative officer at NUVOtv and a shareholder.
  • Marvel "signed away" the film rights to X-Men and Spiderman, but it's successfully raking in money with lesser known heroes like Captain America and Thor (BloombergBusinessweek). There will be a discussion on "Captain America: The Winter Soldier" today on AirTalk's Filmweek.
  • Univision had a round of layoffs affecting "dozens of workers" nationwide in its radio division (Los Angeles Times). Reporter Meg James says the company's programming staff and some on-air hosts lost their jobs.
  • Uber is launching its services in Palm Springs during the Coachella Valley Music and Arts Festival (San Francisco Chronicle). KPCC's Ben Bergman has covered increased competition for cab drivers.
  • Oakley is reaching out to younger consumers. The Foothill Ranch-based company is the "official eyewear sponsor" of Little League Baseball and Little League Softball (Orange County Business Journal). Reporter Mediha DiMartino says Oakley will provide "customized eyewear" for regional teams at the Little League Baseball World Series.
  • City of Los Angeles Mayor Eric Garcetti wants CBS to bring the next late night show to L.A. (The Wrap). The move comes as David Letterman announced his retirement. "The Tonight Show" has moved from Burbank to New York and there are concerns about film and TV production moving to other states.

  • Tesla Founder Elon Musk didn't like the first episode of TV show "Silicon Valley" because he felt it fails to capture what the people are really like. (re/code). I took out the expletives in the quote below.

     

"The parties in Silicon Valley are amazing because people don’t care about how they’re perceived socially, which I don’t think Mike (Judge, one of the show creators) got," Musk tells re/code's Nellie Bowles. "Hollywood is a place where people always care about what the public will think of them and it's ... sad and the show felt more like that. I've lived in Hollywood 12 years, and I've never been to a ... good party." 

Come on, Hollywood. We can show Musk a good party. 

Got business news? Tweet me @thewendylee.

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