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Ron Burkle

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BUSINESS
February 2, 2010 | Bloomberg News
Shares of bookseller Barnes & Noble Inc. rose 18% in late U.S. trading after Los Angeles billionaire Ron Burkle, its largest outside shareholder, asked the company to waive a provision preventing unwanted takeovers and let him acquire as much as 37% of the shares. In a letter to the board of directors Thursday, Burkle asked the company to clarify whether the shares owned by the founding Riggio family were excluded from the takeover provision. The letter was filed with the Securities and Exchange Commission after the close of regular trading in New York, when the shares had risen 52 cents to $18.
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BUSINESS
September 30, 2013 | By Tiffany Hsu
Fresh & Easy Neighborhood Market Inc. filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court, weeks after being promised to Los Angeles billionaire Ron Burkle. The grocery chain, which is in the process of trading hands from British supermarket giant Tesco to Burkle's Yucaipa Cos., cited debt between $500 million and $1 billion in its court filing Monday. The move “is simply the next step in the restructuring process” during the sale and will have “no impact” on customers' shopping experience, Fresh & Easy said in a statement.
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ENTERTAINMENT
May 31, 2012 | By Ben Fritz
Independent studio Relativity Media has received a much-needed infusion of cash thanks to its new billionaire patron, Ron Burkle. The supermarket magnate, who acquired a large minority share in the movie company behind"Immortals"and"Mirror Mirror"in January, anchored a new $350-million debt-financing round that Relativity has finalized. The money will allow Relativity and its chief executive, Ryan Kavanaugh, to get back into producing movies and start building out the company's 2013 slate.
ENTERTAINMENT
September 20, 2013 | By Mike Boehm
Lillian Disney lived 101/2 years after instigating the creation of Walt Disney Concert Hall in her husband's honor by donating $50 million, but she never got to see it rise from its foundation, alone attend a performance. "A concert hall that would entertain the public with the finest musical offerings would be enormously gratifying to him," she had said in announcing her gift in 1987. The groundbreaking ceremony launching Disney Hall's construction finally arrived in December 1999 - two years after her death at age 98. The project became an epic mess that was sorted out only after it had turned into a civic embarrassment.
BUSINESS
August 13, 2010 | By Andrea Chang, Los Angeles Times
Barnes & Noble Inc.'s heated battle with Los Angeles billionaire Ron Burkle continued Thursday as a judge dismissed his lawsuit against the bookseller that sought to expand his stock holdings. The decision by a Delaware judge came hours after the bookstore giant announced that it had not reached a settlement with Burkle's Yucaipa Cos. to avert a costly proxy fight after news reports said the companies were close to a deal. "Yucaipa was battling to get control, and Barnes has essentially successfully defended against that as of this hour, or so it seems," said David Schick, an analyst at Stifel, Nicolaus & Co. "This is a tennis match and this is one game in the match.
BUSINESS
September 21, 2010 | By E. Scott Reckard, Los Angeles Times
Los Angeles billionaire Ronald W. Burkle has won a key ally in his battle against Barnes & Noble Inc. after Institutional Shareholder Services, an influential advisor to stock investors, endorsed his plan to replace three of nine directors at the big New York-based bookseller. In a 16-page opinion Sunday advising shareholders how to vote at next week's Barnes & Noble annual meeting, Institutional Shareholder also endorsed Burkle's proposal to rewrite the company's "poison pill" plan, which seeks to prevent hostile takeovers.
SPORTS
April 22, 2011 | By Bill Shaikin
Steve Garvey, one of the most popular players in Dodgers history, said Friday that he has teamed with billionaire business magnate Ron Burkle in an investment group that would like to buy the team. Commissioner Bud Selig seized control of the Dodgers this week, dramatically increasing the chances the team eventually would be sold. In that event, Garvey said, he believes his baseball background and Burkle's business acumen could help the Dodgers reclaim their place among baseball's elite franchises.
BUSINESS
June 25, 2010 | By W.J. Hennigan and Nathan Olivarez-Giles, Los Angeles Times
Cash-strapped clothing maker and retailer American Apparel Inc. got a boost from Los Angeles billionaire investor Ron Burkle, who disclosed Thursday that he had acquired a 6% stake in the company saddled by debt and weak sales over the last year. According to a filing with the Securities and Exchange Commission, Burkle reported he had purchased 4.3 million shares in the open market for $5.9 million between June 10 and Monday. The filing said Burkle made the purchase "because, in his opinion, such shares were undervalued."
SPORTS
January 28, 2012 | By Bill Shaikin
On the day after Frank McCourt agreed to sell the Dodgers, billionaire Ron Burkle issued a statement that indicated he would consider buying the team. "It is one of the best brands in all of sports," Burkle said. "And, like many people, I'd be very proud to be a part of its future. " Burkle did not bid on the Dodgers, but he might still play a part in the future of the team. With the opening round of bidding concluded, Burkle might consider backing groups led by Rick Caruso or Stanley Gold, according to a person familiar with the sale process but not authorized to discuss it. McCourt and his bankers cut the list of prospective owners Friday.
CALIFORNIA | LOCAL
July 17, 2011 | Craig Nakano
Frank Lloyd Wright's Ennis House, the 1924 hilltop mansion that is one of the master's most celebrated residential designs and one of Los Angeles' most revered architectural landmarks, has sold to billionaire Ron Burkle for about $4.5 million, 70% less than its original asking price. Ennis House Foundation Chairwoman Marla Felber confirmed on Saturday the exact price: $4,458,084.58, which represents the organization's balance on a construction loan taken out to repair L.A.'s most prestigious fixer.
BUSINESS
September 10, 2013 | By Stuart Pfeifer
Ron Burkle, who became a billionaire reviving faltering supermarket chains, will try to turn the money-losing Fresh & Easy stores into a profitable venture. Burkle's Yucaipa Cos. has agreed to buy the El Segundo chain for an undisclosed amount from British supermarket giant Tesco, which is bailing from the U.S. scene after losing about $2 billion over five years. Yucaipa will acquire more than 150 of Fresh & Easy's 200 mostly Southern California stores and its Riverside distribution and production facilities, keeping more than 4,000 employees.
BUSINESS
June 13, 2013 | By Tiffany Hsu, Los Angeles Times
Wild Oats Markets Inc., the closed purveyor of organic and natural foods, is planning a comeback this year, potentially aided by local billionaire Ron Burkle. The company, which has been out of operation since 2007, now says on its website that it is "re-introducing" its brand, bringing beverages, snacks, cereals, pasta and other goods to store shelves. Burkle's Los Angeles private equity company Yucaipa Cos. seems to be involved. A trademark application filed by Wild Oats Marketing last June and published for opposition in late May lists Yucaipa's Sunset Boulevard address.
ENTERTAINMENT
March 25, 2013 | By Daniel Miller
Billionaire mogul Ron Burkle has invested in a new branded entertainment company, broadening his rapidly growing stable of Hollywood-related businesses. Burkle has partnered with publishing executive Richard Beckman and entertainment attorney Joel Katz of Greenberg Traurig to start Three Lions Entertainment, the company announced Monday. It will open headquarters in Midtown Manhattan in April, but is already operating out of temporary offices. Three Lions will produce network television programs that embed advertisers' products within the shows.
SPORTS
March 9, 2013 | By Ben Bolch
Passing it on Brandon Jennings is mastering more than the first half of his job description. The Milwaukee Bucks point guard proved he was a natural scorer only seven games into his NBA career, when he splurged for 55 points against Golden State. Overall, the former Compton Dominguez High star has scored 30 or more points 23 times in his first four pro seasons. Something he had not done until last week: collect 10 or more assists in three consecutive games. It started when Jennings logged a career-high 19 assists in a victory over Toronto on March 2. He showed it would not be just a passing fancy when he collected 17 assists two nights later in a triumph against Utah.
SPORTS
December 6, 2012 | By Helene Elliott
NEW YORK - NHL Commissioner Gary Bettman and NHL Players' Assn. Executive Director Donald Fehr were poised to rejoin labor negotiations Thursday after moving aside to let their respective top lieutenants preside over the talks for two days. The change comes at a critical juncture in the discussions, which produced some movement on each side on Tuesday and Wednesday. However, left unresolved were key issues such as as the league's insistence on a five-year cap on contracts and a maximum 5% salary variance from year to year.
SPORTS
December 4, 2012 | By Helene Elliott
NEW YORK - Finally, there's reason to believe the NHL and the players' association are listening to each other and might be inching toward a labor agreement that would salvage some semblance of a season. NHL Deputy Commissioner Bill Daly, who has often accused the NHLPA of being unwilling to negotiate, was cordial toward the union after marathon meetings between selected owners and players at a New York hotel Tuesday. That was significant because Daly has been a loud and constant critic of the union's supposed reluctance to compromise.
BUSINESS
November 3, 2007 | From the Associated Press
Supermarket billionaire Ron Burkle's investment firm, Yucaipa Cos., said Friday that it would join Bimbo Bakeries USA and the International Brotherhood of Teamsters in an effort to buy troubled Interstate Bakeries Corp. The Kansas City, Mo.-based maker of Hostess Twinkies and Wonder Bread, which filed for bankruptcy protection in September 2004, has lined up about $400 million in financing from specialty lender Silver Point Finance when it emerges from bankruptcy.
BUSINESS
August 31, 2010 | W.J. Hennigan
A high-stakes battle over the nation's largest bookseller escalated Monday as Los Angeles billionaire Ronald W. Burkle accused Barnes & Noble Inc.'s chairman and largest shareholder of self-dealing, approving business deals that benefit himself and his family. The accusatory letter, sent to shareholders Monday, was the latest move in Burkle's monthlong proxy battle to secure three seats — including one for himself — on the company's board of directors. Burkle's investment firm, Yucaipa Cos., owns about 19% of the company and wants to buy more.
ENTERTAINMENT
September 24, 2012 | By Ben Fritz
Hollywood's 107-year-old industry trade publication Variety and 6-year-old online competitor Deadline, headed by editor Nikki Finke, may soon be housed under the same corporate roof. Penske Media Corp., the owner of Deadline and six other online properties, is now the leading bidder for Variety, partnered with private equity fund Shamrock Capital Advisors, according to two knowledgeable people not authorized to discuss the matter publicly. The company, led by Jay Penske, the 33-year-old son of automobile magnate Roger Penske, could close a deal to purchase the paper in the next three weeks for around $30 million, one of the people added.
ENTERTAINMENT
August 13, 2012 | By Ben Fritz
Avenue Capital, a New York hedge fund whose holdings include the parent company of the National Enquirer, is now the leading bidder for Variety. A late entrant in the sales process being run by Variety corporate parent Reed Elsevier, Avenue had bid more than $40 million, according to a person close to the process who was not authorized to speak publicly. Avenue invests primarily in "distressed and undervalued assets," according to its website, and has $12 billion worth of holdings.
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