April 9, 2013 |
Federal budget cutters are merging the two West Coast administrative regions of the National Marine Fisheries Service, a move that could leave California at a disadvantage. The merger will create one administrative region for the West Coast, saving an estimated $3 million in management costs. Currently the agency has two West Coast regions: The Southwest, headquartered in Long Beach, oversees California. The Northwest, based in Washington state, covers Washington, Oregon and Idaho.
February 13, 2013 |
A long-anticipated merger of American Airlines and US Airways is expected to be announced Thursday after weeks of closed-door negotiations, according to people briefed on the deal. The transaction would create the nation's largest carrier and cap an era of consolidation in a troubled industry. The marriage of American, based in Fort Worth, and its smaller competitor based in Tempe, Ariz., would form an airline valued at $11 billion. The union would be the latest in a string of mergers and acquisitions in an industry struggling to stay airborne amid fluctuating fuel costs, labor strife and economic turbulence.
September 1, 2011 |
Recent notable cases in which the U.S. government has tried to stop a corporate merger: 1997: The Federal Trade Commission blocks the merger of office-supply superstore chains Staples Inc. and Office Depot Inc. 1998: The Justice Department sues to block Lockheed Martin Corp.'s $11.6-billion acquisition of aviation rival Northrop Grumman Corp. Four months later, Lockheed drops its bid. 2000: The $120-billion merger of long-distance telephone companies WorldCom Inc. and Sprint Corp.
November 12, 2013 |
It's a go. American Airlines and US Airways are set to merge, becoming the largest airline in the nation after a settlement with the U.S. Justice Department. The Justice Department was against the move, but the two airlines have agreed to its demands -- primarily, giving up landing slots and passenger gates at airports where they might have crushed the competition. (More from Hugo Martin: " Settlement OKs merger of American Airlines, US Airways . ") Our infographic below shows how the merger will add up. Click through for more information on the nation's newest, heftiest airline.
October 17, 2012 |
KCET is writing the next chapter in its story: a merger with satellite network Link TV. Formerly the Los Angeles area's PBS flagship, KCET will merge with Link to form KCETLink, "a powerful new independent public transmedia company that acquires, produces and distributes provocative global programming targeted to a national audience across multiple media platforms," according to a news release. The new outlet will be available in 33 million U.S. homes through DirecTV and Dish Network, according to the companies.
March 5, 2012 |
Kinecta Federal Credit Union of Manhattan Beach and NuVision Federal Credit Union of Huntington Beach have called off a plan to combine in one of the biggest mergers in the history of the industry. With roots deep in Southern California's aerospace industry, Kinecta and NuVision had been working on the merger for a year and a half. They had hoped their deal would close early this year, but said in a recent joint statement that in the tough current economy it would have taken them two more years to integrate their operations.
July 12, 2013 |
A merger between US Airways and American Airlines, creating the nation's largest air carrier, has taken another step forward with the approval of a majority of US Airways shareholders. About 99% of US Airways Group shareholders who voted Friday supported the merger with American's parent company, AMR Corp. The vote was not surprising as it was US Airways that first proposed the merger after AMR Corp. filed for bankruptcy in 2011. "This approval is a major milestone on our path to completing the merger, and we continue to make excellent progress overall thanks to the focused efforts of the dedicated representatives from both companies," said Doug Parker, chairman and chief executive of US Airways and incoming chief executive of the combined company.
January 24, 2013 |
Hanmi Financial Corp. of Los Angeles said its profit more than doubled to $14 million in the fourth quarter as regulators lifted 3-year-old orders requiring the parent of Hanmi Bank to raise more capital. The end of enforcement actions by state bank regulators and the Federal Reserve enables Hanmi, once the largest of the many Koreatown-based banks, to focus on arranging a financial marriage for itself, Chief Executive Jay S. Yoo said in announcing the earnings Thursday morning.
June 20, 2013 |
The proposed merger of American Airlines and US Airways would cut competition on more routes than previously thought, impacting more than 53 million fliers, according to a new federal study. Proponents of the merger have said in the past that the two airlines overlap on only 12 non-stop routes. But in the first detailed study of the merger's impacts, the U.S. Government Accountability Office said competition would be cut on 1,665 other routes with at least one stop. By comparison, the GAO study said the merger of United with Continental in 2010 eliminated a key competitor in 1,135 routes.
November 16, 2012 |
About 10 years ago, Dish Network and DirecTV tried to merge but regulators decided that a combination of the nation's two satellite broadcasters would be anti-competitive. At that time, one of the reasons given for blocking the marriage was that it would limit competition among pay-TV distributors. Now, a decade later, there are more options for consumers in the form of phone companies such as Verizon and AT&T. Also, online platforms such as Netflix and Hulu have emerged as viable distribution systems.