Good morning! Welcome to KPCC's business blog, The Breakdown. Every weekday, our staff compiles a list of interesting business stories in the region.
- Bloomberg looks at a drop in shares of Occidental Petroleum Corp., which are down after the city of Carson imposed a moratorium on new oil and gas drilling earlier this week. (Bloomberg)
- Long Beach Transit may have to cancel a $12M contract for electric buses, after the Federal Transportation Administration warned transit officials that bus manufacturer BYD was not eligible for the contract. (Press-Telegram)
- TV station groups Media General and LIN are poised to merge in a $1.6 billion deal that will create the nation’s second-largest pure-play broadcaster. This is part of a larger trend of broadcast stations consolidating. KPCC earlier reported on Tribune Co.'s purchase of Local TV Holdings, LLC. (Variety)
- Freedom Communications, owner of the Orange County Register, is launching a Spanish-language newspaper that will be distributed in Orange County, Inland Southern California, the Coachella Valley and Los Angeles. (Orange County Register)
- More than 50 restaurants throughout Long Beach will be taking part in the city's inaugural restaurant week, which will urge patrons to "Eat LBC." (Press-Telegram)
Got business news? Tweet the business team reporters: Wendy Lee (@thewendylee), Brian Watt (@radiobwatt) and Ben Bergman (@thebenbergman).