YOU ARE HERE: LAT HomeCollectionsJoint Ventures

Joint Ventures

August 3, 1991 | HAL FOSTER
A Los Angeles company that makes equipment for dams and other electrical power-generating facilities has entered into a joint venture with two Soviet companies to market large Soviet-built generators and turbines in the United States. Magnetek Inc. is the No. 1 builder of medium-power transformers in the United States, but does not manufacture the industry's biggest power devices--generators and turbines.
October 4, 2013 | By Ryan Faughnder
Isaac Lee, the president of Univision Communications Inc.'s Univision News, has been named chief executive officer of Fusion, the soon-to-be-launched cable channel that is a partnership between the Spanish broadcaster and ABC News.  Beau Ferrari, Univision's executive vice president of operations, had been serving as acting president for Fusion. A veteran journalist and Colombia native, Lee has been overseeing the development of Fusion, which is expected to launch at the end of the month and targets the growing population of English-speaking Latinos.
July 31, 1996 | From Times Wire Services
Passengers on Swissair's long-haul jets later this year will get a chance to do some casino-style gambling during their flights. Las Vegas-based Interactive Flight Technologies has completed a contract with Swissair for the installation of its In-Flight Entertainment Network on all of the airline's long-haul jets. The first plane is scheduled to be equipped with the system, which will cost between $70 million and $80 million, in October and to be in flight by November.
September 2, 2013 | By Walter Hamilton
In one of the largest deals in global corporate history, Verizon Communications Inc. agreed to pay $130 billion to buy Vodafone Group's 45% stake in Verizon Wireless and take full control of the nation's top wireless carrier. The deal would put to an end a joint venture launched by the two telecom giants in 2000 after a string of mergers that had altered the contours of the mobile-phone industry. Verizon had made repeated attempts during that time to acquire Vodafone's stake, but the two could not agree on price.
International Business Machines and Apple Computer on Wednesday signed their wide-ranging cooperation agreement, a landmark accord that includes the establishment of two joint venture companies and extensive sharing of technologies. The two computer firms, once bitter rivals, stunned the industry when they announced the outlines of the agreement in July.
June 9, 1999 | Bloomberg News
Microsoft Corp. said it is working with No. 3 U.S. long-distance phone company Sprint Corp. to combine phone and data services, and wants to set standards for unified messaging that combines voicemail, e-mail and pages in one in-box. Microsoft and Sprint plan this summer to begin selling systems that manage phone services such as local, wireless and Internet access and also include voicemail and e-mail on a single computer.
November 7, 1997 | (John O'Dell)
Fluor Corp. said Thursday that its Fluor Daniel unit has formed a joint venture with Boston-based engineering services firm Stone & Webster to pursue petrochemical industry construction project jobs. The joint venture, to be headquartered in Houston, will concentrate on the ethylene industry. Ethylene is a major petrochemical feedstock used to manufacture a variety of derivatives, including plastics and solvents.
March 29, 2000 | By P.J. Huffstutter
Broadcom Corp. today will announce a multiyear joint venture with a Rohnert Park, Calif., company to transform copper telephone wires into a powerful weapon that telephone companies can wield against cable television operators. The Irvine chip maker and Next Level Communications Inc., which have worked together for the last several years, plan to co-develop chips for set-top boxes that work with very high-speed digital subscriber line, or VDSL, technology.
December 14, 1995
Hygenics Pharmaceuticals Inc. and Iowa City-based Biocontrol Inc., both fledgling biomedical firms, plan to form a joint venture to develop long-lasting antiseptics for medical and other uses. The companies intend to come up with products that will use Biocontrol's drug-delivery system to prolong the life of antiseptics that Hygenics makes. The companies hope to raise $10 million to $20 million from private investors to launch the venture in February.
September 11, 1997 | Reuters
Ticketmaster Group Inc. said it has purchased Time Warner Inc.'s one-third interest in their Ticketmaster-Southeast joint venture for $9.5 million in cash, giving Ticketmaster a two-thirds stake in the venture. The remaining one-third interest is owned by Seagram Co.'s MCA unit. Los Angeles-based Ticketmaster also reported profit of almost $2 million, or 8 cents a share, in the second quarter ended July 31, contrasted with a loss of $439 million, or 3 cents, in the year-ago period.
August 15, 2013 | By Richard Verrier
UltraStar Cinemas of San Diego County has formed a joint venture to build more than 40 theaters in China, capitalizing on that country's growing appetite for movies. UltraStar said in a statement Thursday it had formed a joint venture with Letian Entertainment, a subsidiary of China's second-largest broadcast network, to develop and operate theaters throughout China, which is in the midst of a multiplex-building boom. The companies are expected to complete construction of three theaters by the end of 2013, with plans to build an additional 40 cinemas by the end of 2016.
July 22, 2013 | By Roger Vincent
Los Angeles commercial property landlord Thomas Properties Group Inc. has struck an agreement with its longtime investment partner that would allow Thomas to take full ownership of mammoth City National Plaza in downtown Los Angeles and other properties. “We want to increase the number of properties we wholly own or control,” Chief Executive James A. Thomas said. “This is a transformative opportunity for us.” Thomas Properties formed a joint venture with the California State Teachers' Retirement System in 2003 to acquire and upgrade the former Arco Plaza in downtown Los Angeles.
April 30, 2013 | By Bruce Klingner
It's time for South Korea to face facts: The Kaesong experiment has failed. The ideologically motivated joint business venture with North Korea known as the Kaesong industrial complex is not economically viable, nor has it achieved any of its political objectives. To protest recent sanctions against it, the North pulled its workers out this month and locked out workers from the South. Seoul tried to engage North Korea to resolve the dispute, coupled with an uncharacteristic deadline and a warning of "grave consequences.
December 6, 2012 | By Jerry Hirsch
Imagine a world where Buick outsells Chevrolet. It's called China. Buick is the top seller for General Motors' Shanghai GM venture. November sales in China for the Buick brand reached 70,172 vehicles, a 17% gain from the same month a year earlier. The Regal sold 9,204 units, almost 10 times the volume it sold in the U.S. last month. Chevrolet sold 63,012 vehicles in China last month, a 15% gain over the same period a year earlier. GM is the largest foreign automaker in China.
October 18, 2012 | By Dawn C. Chmielewski
Creative Artists Agency and one of the top talent agencies in India, Kwan Entertainment & Marketing Solutions, have formed a joint venture to represent Bollywood talent, in a move that underscores the importance of the growing Asian market to the entertainment industry. The newly formed CAA Kwan will pursue opportunities for talent in film, television, music, commercial endorsements, sports consulting and other businesses. The company will be based in Mumbai, with offices in Delhi, Bangalore and Hyderabad.
September 24, 2012 | By David Ng
Sotheby's will expand its presence in China with a new, 10-year joint venture that will see the auction house giant team up with a state-owned Chinese art company. The deal will create a new entity called Sotheby's (Beijing) Auction Co., Ltd.  Sotheby's said the new company would be the first international fine-art auction house in China. The agreement is subject to approval from the Chinese government. Under the new deal, Sotheby's said it would focus on auctions and exhibitions.
June 6, 1996 | Barbara Marsh
Today, Orange County. Tomorrow, the world? VNA Home Health Systems, the Orange-based nonprofit company that provides visiting nurses and other home health-care services across the county, aims to get into the global market for mail-order drugs. The company, forming a joint venture with Colorado drug maker Golden Pharmaceuticals Inc., has set up the new mail-order firm in Santa Ana, says Gordon Martin, VNA's chief executive.
July 26, 1992
Fruehauf Trailer Corp. said Friday that it has begun a joint venture with a Chinese company to assemble trailer axles for Pacific Rim markets. The company, based in Anaheim, said that it will form Shunde Pro-Par Axle Co., which will assemble the axles at a new plant in the People's Republic of China. The plant will be located in the city of Shunde, about 30 miles south of Canton. The axles will be used on frames produced by Shunde Guang Lian Hong Communication Machinery Manufacturing Co.
August 12, 2012 | By Meg James, Los Angeles Times
A quarter century ago, Fox figured there was room for more than just three big TV networks. It created Fox Broadcasting, which would redefine television with shows such as "Married ... with Children,""The Simpsons,""24" and"American Idol. " Now, Fox is hoping to stage an encore. Rupert Murdoch's company on Monday unveiled MundoFox, a new Spanish-language broadcast network. A joint venture with Colombian powerhouse RCN Television Group, the network will challenge the Spanish-language media dominance of entrenched rivals Univision Communications and Telemundo.
July 25, 2012 | By Shan Li
This post has been corrected. See the note at the bottom for details. Toymaker Jakks Pacific is joining forces with Los Angeles tech firm Nantworks to develop and sell a new line of toys tied to smart devices. The toy collection will incorporate a free app designed by Nantworks that uses image-recognition technology to recognize objects and trigger photos, animations and other data to pop up on a smartphone or tablet computer. For example, a smartphone with the app open can be pointed to a costume tiara -   and on the phone's screen, hair could be programmed to digitally grow from the crown, said Stephen Berman, Jakks' chief executive.
Los Angeles Times Articles