Latest news with #LosAngeles-based
Yahoo
2 hours ago
- Business
- Yahoo
Rexford Industrial: Q2 Earnings Snapshot
LOS ANGELES (AP) — LOS ANGELES (AP) — Rexford Industrial Realty Inc. (REXR) on Wednesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations. The Los Angeles-based real estate investment trust said it had funds from operations of $139.7 million, or 59 cents per share, in the period. The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 58 cents per share. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $113.4 million, or 48 cents per share. The industrial real estate investment trust, based in Los Angeles, posted revenue of $249.5 million in the period. Rexford Industrial expects full-year funds from operations in the range of $2.37 to $2.41 per share. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on REXR at Sign in to access your portfolio
Los Angeles Times
3 hours ago
- Entertainment
- Los Angeles Times
Beat ‘em or buy ‘em. Fox News and others chase online audiences with podcaster deals
As legacy news brands turn to podcasters to court online audiences, another digital media upstart has been invited to sit at the grown-ups table. Fox News Media this week signed a licensing deal with the makers of 'Ruthless,' a popular conservative podcast, a move aimed at expanding the network's digital reach. The five-year-old podcast is co-hosted by public affairs and digital advocacy consulting firm Cavalry LLC's founding partners Josh Holmes, Michael Duncan and John Ashbrook, as well as Shashank Tripathi, a commentator known by the pseudonym 'Comfortably Smug.' It will operate under the Fox News Digital division led by Porter Berry. The co-hosts will also get exposure on the Fox News Channel. The move is another sign of traditional media outlets looking for ways to appeal to audiences who are no longer in the pay-TV universe. Faced with a slow but steady decline in audience levels due to competition from streaming, upstart digital operations are seen as a route to reach those consumers. Podcasts — particularly those hosted by comedians such as Joe Rogan and Andrew Schulz — proved influential in the 2024 presidential election as more traditional news outlets felt their relevance waning. 'Ruthless' has gained a large following among men aged 18 to 45, a group that is spending less time with traditional TV, where Fox News is the most-watched cable channel and often tops broadcast networks in prime time. The podcast is regarded as the conservative answer to 'Pod Save America,' the popular digital program led by four former Obama aides, which is produced by Los Angeles-based Crooked Media. Recent 'Ruthless' episodes covered anti-ICE protests in Los Angeles and Elon Musk's proposal for a new political party. Fox News Media has a stable of podcasts hosted by the network's on-air talent such as Will Cain. But 'Ruthless' is the first outside entity to join its digital platforms, and similar deals could follow. Fox News has a multiyear deal with 'Ruthless,' which will share in the revenue the podcast generates across the network's various platforms. The 'Ruthless' partners will retain editorial control over the podcast, although their right-leaning worldview is in keeping with other commentators on Fox News. They will also serve as Fox News contributors appearing on the TV network's programs. Others media giants have gotten into the more freewheeling online sphere by working with podcasters and YouTubers. ESPN reached into the digital media space when it picked up sports commentator Pat McAfee's program — a hit on YouTube — for its TV networks. McAfee retains control of the program, which is licensed by the Walt Disney Co. unit. Earlier this year, Fox News parent Fox Corp. acquired Red Seat Ventures, which provides ad sales, marketing and production support for digital content creators, many of them aimed at politically conservative audiences. There may be more such deals ahead. The Fox News announcement follows reports that David Ellison, whose company Skydance Media has a merger agreement with Paramount Global, has engaged in talks about acquiring The Free Press, a popular digital news site launched by former New York Times opinion writer Bari Weiss. The entity, which produces Weiss' current affairs podcast 'Honestly' and uses the independent newsletter publishing platform Substack, would operate separately from Paramount Global's CBS News division, according to one person familiar with the discussions who was not authorized to comment publicly.
Fashion Network
4 hours ago
- Business
- Fashion Network
Von Dutch enters F&B market with new liquor, soda, and water ranges; cafés to come
American fashion brand Von Dutch is entering the food and beverage market with its debut liquor collection, healthy sodas and mocktails, as well as a new water range, ahead of the opening of Von Dutch-branded cafés. The Los Angeles-based brand, acquired by White Space Group (WSG) in 2024, has signed a global licensing agreement to form Von Dutch F&B, as the early 2000s apparel outfit looks to become a complete lifestyle brand. The new food, beverage and hospitality venture, led by a newly appointed CEO Joe Wallace, kicks off with the launch of organic, plant-based mocktails and healthy sodas created in collaboration with Flavor House. The brand will also launch liquor products including vodka, tequila, beer, and spiked seltzers, followed with the debut of Von Dutch Water. Finally, the brand has plans to rollout Von Dutch Cafés, or café-lounge hybrids, set to open in New York and Los Angeles in the next 12 months. Visitors can expect a space that shifts from daytime coffee and snacks into an after-hours haven made up of mocktails, cocktails, and live entertainment. 'We're building more than a food brand - we're creating a whole empire. Von Dutch will be about entertainment, hospitality, wellness, authenticity, and bringing in new energy," said Wallace, an executive that has raised millions in startup capital and led several first-to-market innovations across food tech, hospitality, and consumer goods. 'This partnership marks a powerful step forward for Von Dutch as a cultural force. Joe brings not only the entrepreneurial fire, but the values and velocity to translate this brand into entirely new verticals," said Jack Cheika, CEO of WSG, which purchased the Californian brand from the French Royer Group, in June last year.
Los Angeles Times
4 hours ago
- Automotive
- Los Angeles Times
US Auto Trust Sells Jaguar Land Rover Dealerships to Sonic Automotive
Transaction Represents the Biggest Jaguar Land Rover Sale in Automotive Retail History Kerrigan Advisors, a sell-side advisor to auto dealers nationwide, represented Los Angeles-based US Auto Trust in the sale of its Jaguar Land Rover (JLR) dealerships in Los Angeles, Newport Beach and San Jose and the Land Rover dealership in Pasadena to Sonic Automotive, the sixth largest automotive retailer in the United States. The transaction marks the most valuable JLR sale in automotive history and makes Sonic the leading JLR retailer in the U.S. The sale also represents Kerrigan Advisors' 401st franchise sold nationally since 2015, cementing the firm's position as the leading sell-side advisor to higher value dealerships. US Auto Trust's JLR platform represents some of the highest volume JLR franchises ever sold in the U.S. Land Rover Los Angeles ranked #1 in California and #5 in the U.S. and serves the affluent Beverly Hills market. Jaguar Land Rover Newport Beach is one of the top franchises in California and ranked #2 in the U.S., and Jaguar Land Rover San Jose is the highest volume Jaguar Land Rover dealership in Northern California. The group will retain ownership of its Aston Martin, Cadillac and Lotus dealerships in Southern California after the sale. 'Kerrigan Advisors played an instrumental role in making the sale happen,' said Matt Kaiser, chief of staff for US Auto Trust. 'The firm's expertise was invaluable in identifying Sonic as the ideal buyer for our valuable JLR platform. We've greatly valued our partnership with JLR and are proud of the transformation we've achieved, elevating these dealerships from among the brand's lowest NPS performers to some of the highest ranked in both customer service and sales. As an ultra-premium retail group with a deep commitment to the customer experience, we accomplished our objectives and believe the time was right to redirect our focus toward future luxury acquisitions. We remain dedicated to serving the Southern California luxury market through our other Aston Martin, Cadillac and Lotus franchises.' 'The US Auto Trust-Sonic transaction demonstrates the strong demand for premium dealership assets in top California auto retail markets like Beverly Hills, Newport Beach, Pasadena and San Jose. We were honored to represent US Auto Trust in this historic sale and congratulate Sonic on this marquee acquisition,' said Ryan Kerrigan, managing director of Kerrigan Advisors. 'We have appreciated being a thought partner to US Auto Trust as they entered the auto retail industry and, when the time was right, assisting the group in selling their lucrative JLR platform. Congratulations to US Auto Trust and Sonic on this important transaction.' Land Rover, known for its iconic SUV-only lineup, has one of the most coveted dealer networks in the United States with just 202 franchises nationwide. The dealerships in this sale are known for their prime real estate and strategic locations in some of the most affluent regions in the U.S., benefiting from high population density per franchise and industry-leading customer loyalty scores. California is the nation's largest auto retail market, generating over $150 billion in dealership revenue in 2024, accounting for 12% of the U.S. market and ranking second in average revenue per dealership. 'This transaction highlights that the combination of high volume, ideal auto retail location and top luxury franchises creates strong buyer demand. JLR's high-margin product lineup and robust profitability further increased the appeal of US Auto Trust's JLR platform in California,' said Erin Kerrigan, managing director of Kerrigan Advisors. 'We were honored to represent US Auto Trust and work with their team to ensure this highly valuable multi-franchise transaction ran smoothly and came to a successful close.' Information sourced from Businesswire. To learn more, contact melanie@
Fashion Network
5 hours ago
- Business
- Fashion Network
Von Dutch enters F&B market with new liquor, soda, and water ranges; cafés to come
American fashion brand Von Dutch is entering the food and beverage market with its debut liquor collection, healthy sodas and mocktails, as well as a new water range, ahead of the opening of Von Dutch-branded cafés. The Los Angeles-based brand, acquired by White Space Group (WSG) in 2024, has signed a global licensing agreement to form Von Dutch F&B, as the early 2000s apparel outfit looks to become a complete lifestyle brand. The new food, beverage and hospitality venture, led by a newly appointed CEO Joe Wallace, kicks off with the launch of organic, plant-based mocktails and healthy sodas created in collaboration with Flavor House. The brand will also launch liquor products including vodka, tequila, beer, and spiked seltzers, followed with the debut of Von Dutch Water. Finally, the brand has plans to rollout Von Dutch Cafés, or café-lounge hybrids, set to open in New York and Los Angeles in the next 12 months. Visitors can expect a space that shifts from daytime coffee and snacks into an after-hours haven made up of mocktails, cocktails, and live entertainment. 'We're building more than a food brand - we're creating a whole empire. Von Dutch will be about entertainment, hospitality, wellness, authenticity, and bringing in new energy," said Wallace, an executive that has raised millions in startup capital and led several first-to-market innovations across food tech, hospitality, and consumer goods. 'This partnership marks a powerful step forward for Von Dutch as a cultural force. Joe brings not only the entrepreneurial fire, but the values and velocity to translate this brand into entirely new verticals," said Jack Cheika, CEO of WSG, which purchased the Californian brand from the French Royer Group, in June last year.
