Business

Court nixes ruling delaying Activision deal

DOVER, Del. — The Delaware Supreme Court on Thursday overturned a judge’s ruling that delayed the $8.2 billion sale of Vivendi’s majority stake in Santa Monica-based Activision Blizzard Inc. back to the video game maker and an investor group led by CEO Bobby Kotick and co-chairman Brian Kelly. The ruling clears the way for the deal... Read more →

Business

Brief: Hipster lounge The Bungalow shuttered — for now

Two young ladies enjoy a drink on the back patio of The Bungalow. (File photo) The Bungalow at the Fairmont Miramar Hotel, a popular lounge that features a Baja-style surf vibe, is shutting its doors for an undetermined amount of time as the operators apply to expand the hotel’s liquor license to cover the venue, which operated for more... Read more →

Business

Brief: Winter tourism up in 2013, study shows

File photo Tourists who visited Santa Monica between January and March of 2013 spent more time and money in the city than those who came the year before, a report from the Santa Monica Convention & Visitors Bureau stated. Based on a poll of 300 tourists, defined as individuals who reside outside of Los Angeles County, the average... Read more →

Business

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Residents critique Downtown plan at EIR meeting

City officials are currently working on a plan for Downtown that will dictate the height and density of future buildings. (Brandon Wise brandonw@smdp.com) CIVIC CENTER— Residents voiced fears of overcrowding resulting from the proposed Downtown Specific Plan at a public environmental impact report meeting Thursday... Read more →

Business

Labor issues, community benefits stall hotels

A pair of properties at the corner of Colorado Avenue and Fifth Street are slated to be redeveloped into affordable hotels. () CITY HALL— Issues over labor, design, and community benefits caused planning commissioners to delay approval of two proposed hotels on Fifth Street and Colorado Avenue Wednesday night. The proposed Courtyard... Read more →

Business

Newsrack fees nearly double

City Hall recently raised fees for newsracks, forcing three publications, including L.A. Parent, to no longer maintain racks in Santa Monica. (Daniel Archuleta daniela@smdp.com) CITYWIDE — An increase in city fees to renew newsrack permits is forcing three publications, including the Argonaut, to abandon their Santa Monica racks, a... Read more →

Business

VIDEO: Viewpoints, Episode 4. Traffic in Santa Monica

Ask most residents what their number one complaint is about Santa Monica and most likely they’re reply — traffic. City officials have long talked about the housing-jobs imbalance that plagues the city by the sea. Too many workers and not enough housing to accommodate them, meaning they are hopping in their cars and clogging our streets... Read more →

Business

Prime real estate: Advertising firm signs $1.35M lease

Clock Tower building. (Photo courtesy Avison Young) DOWNTOWN — Commercial real estate services firm Avison Young announced it has completed a five-year office lease valued at $1.35 million with GumGum, Inc., an image-based advertising firm. GumGum will occupy 4,390 square feet on the sixth floor of the Clock Tower building at 225... Read more →