San Fernando Valley Burbank Solar technology firm eSolar Inc. raised $22 million in additional funding from existing investors. The new round of funding will support the Burbank firm’s expansion into the Middle East and North Africa, as well as aid in developing its next-generation of utility-scale power plants. The funding round was led by Oak Investment Partners of Norfolk, Conn. and included other undisclosed previous investors. The company was founded in 2007 at Pasadena’s Idealab and is backed by large investors including Google Inc. and General Electric Co. The firm also operates Sierra Sun Tower, a 5-megawatt project in Lancaster built in 2009. Walt Disney Co. has ended its 20-year relationship with famed producer Jerry Bruckheimer. The Burbank studio is not renewing its first-look deal with Bruckheimer, who collaborated with the studio on such film franchises as “Pirates of the Caribbean” and “National Treasure.” Disney said the producer is looking to work on more “mature films” that do not fit with its brand. The announcement comes after Disney announced a delay in the filming of the fifth installment of the “Pirates” series and two months after the disappointing “The Lone Ranger.” Bruckheimer will continue to work with Disney on adventure movies, but will pitch his other work to different studios. Woodland Hills The spinoff of FTD Companies Inc. from United Online Inc. will take longer than the companies expected. United Online, a Woodland Hills Internet provider, had planned to spin off its flower-delivery subsidiary by Oct. 1. The expected separation, which would make FTD its own, publicly-traded company, is now expected by Nov. 1. The spin off was announced in April and shareholders of United will receive one share of FTD common stock for every five shares of United Online common stock. The company said the delay had to do with regulatory approvals, but did not disclose which agency was causing the hold up. Conejo Valley Thousand Oaks Amgen Inc. has decided to renew its sponsorship of the Tour of California. The Thousand Oaks biopharmaceutical company has sponsored the bicycle race since it started in 2006. It is the country’s largest and most popular cycling event with last year’s edition said to draw roughly 2 million spectators. The length of the renewed sponsorship and other financial details were not disclosed. The Tour of California, which runs over eight days, is owned and run by Anschutz Entertainment Group (AEG), a Los Angeles unit of Anschutz Corp. of Denver. The 2013 race traversed nearly 750-miles of roadways, passing through more than a dozen California cities, including Palmdale and Santa Clarita. It was won by Tejay van Garderen who races for the BMC Racing Team. The Federal Trade Commission has approved the $10.4 billion deal allowing Amgen to purchase cancer drug maker Onyx Pharmaceuticals Inc. Amgen offered $125 a share last month for the South San Francisco firm, which has three primary drugs: Kyprolis, a treatment for blood cancers; Nexavar, a drug for liver and kidney cancer; and Stivarga, a colon cancer drug. The offer was only a slight premium over a June 30 offer of $120 a share that Onyx rejected. The acquisition is expected to close Oct. 1. Agoura Hills Single-family landlord American Homes 4 Rent has established a joint venture to buy distressed U.S. mortgage assets. The Agoura Hills real estate investment trust partnered with a unit of Johnson Capital, a real estate advisory firm in Irvine, to form American Mortgage Investment Partners LLC. American Homes, co-founded by B. Wayne Hughes, is the second largest owner of single family homes in the country, with almost 20,000 as of July 31. The firm went public on July 31 in an IPO that raised $706 million. It has struggled since, reporting a net loss of $14 million in the quarter ended June 30, its first earnings as a public company. According to a report from Bloomberg News, the company laid off about 15 percent of its workforce in August, which was previously 684 people. Santa Clarita Valley Santa Clarita A community development survey has been issued by the city of Santa Clarita to get residents’ opinions on housing and development needs within the city. The city receives about $1.2 million in Community Development Block Grants each year. The money can be used for a variety of programs, including youth sports, activities for disabled persons, mental health counseling, new senior centers, parks and more. The city hopes to get some direction from its residents on major community needs. The survey is available online at www.survey-monkey.com/s/santaclarita_english through December. Around the Valleys To be considered for publication, submissions should be emailed to: [email protected]. Please put ATV in the subject line. For more information, call (818) 316-3123.
Around the Valleys
