Los Angeles Times - 02.10.2019

LATIMES.COM/BUSINESS S WEDNESDAY, OCTOBER 2, 2019C3

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ortheavailabilityofratesinthistable.Banks,Thriftsandcreditunionspaytoadvertiseinthisguide.NAmeansratesarenotavailableornotofferedatthetimerates

were surveyed.All institutions are FDIC or NCUAinsured.Yields represent annual percentage yield (APY) paid by participating institutions. Rates may change after

the account is opened. Fees may reduce the earnings on the account.Apenalty may be imposed for early withdrawal. To appear in this table, call 773-320-8492.

Though some might find it hard to imagine, money socked

awayinCDsoccasionallyfallsofftheradar.Offthesaver’s

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asyou’dlike.

Whenacertificate’smaturitydateissoonapproaching,your

bankwillremindyouoftheupcomingdate,alongwithinstruc-

tionsforspecifyingwhatyouwantdonewiththefunds.Butif

you neglect to provide instructions, most institutions will roll

themoneyintoanewCDofthesameterm.Soifyourmatur-

ing certificate had a five-year term, the bank will move the

fundsintoanewfive-yearCD.

If you miss your maturity date, because you left mail un-

openedoryouchangedaddressanddidn’treceivethenotice,

thereisusuallya10-daygraceperiodduringwhichyoucan

still direct the funds. But if it’s been months or years, you’ll

havetocontactthebanktoinquirewheretheymovedyour

money.

The good news is that the funds are still yours. But once

they’ve been rolled into a new CD, you face two disadvan-

tages. First, the interest rate on the new CD is not likely to

becompetitive,soyou’vegivenupyourchancetoearnmore

withabettercertificate.Second,you’llbeforcedtoeitherwait

untilthenewCDmatures,orpayanearlywithdrawalpenalty.

Thesepenaltiesvarywidelyacrossbanks,butcanbesteep.

Claiming a forgotten CD isn’t complicated, but you’ll almost

certainly reduce your earnings by having neglected to act

at maturity. So avoid penalties and lost earnings by putting

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pansion and shifting con-

sumer buying habits toward

online shopping.

Forever 21 has been par-

ticularly hard-hit because it

operates exceptionally large

stores, many of which are an-

chor stores in shopping

malls.

The company acknowl-

edged in its filing that Forev-

er 21 has struggled to sup-

port its “outsized store foot-

print as consumers increas-

ingly purchase clothing and

other goods online.”

Closing stores is “a neces-

sary tool” for Forever 21 “to

reinvigorate” the chain “and

allow for a reorganized busi-

ness unburdened by under-

performing operations,” the

company said.

Forever 21 also issued a

statement cautioning that it

was possible that not all the

U.S. stores listed would ac-

tually close because it was

renegotiating leases with

mall owners and other prop-

erty owners in hopes of ob-

taining more favorable

terms.

“The decisions as to

which domestic stores will

be closing are ongoing,

pending the outcome of con-

tinued conversations with

landlords,” Forever 21 said.

“We do, however, expect a

significant number of these

stores will remain open and

operate as usual, and we do

not expect to exit any major

markets in the U.S.”

Here’s a list of the South-

ern California stores slated

for potential closure:

8 Anaheim — Anaheim

Plaza

8 Arcadia — Westfield

Santa Anita

8 Canoga Park — West-

field Topanga Plaza

8 Culver City — Westfield

Culver City

8 El Cajon — Parkway

Plaza

8 Glendale — Glendale

Galleria

8 Glendale — The Ameri-

cana at Brand

8 Lakewood — Lakewood

Center Mall

8 Los Angeles — Holly-

wood & Highland

8 Los Angeles — Beverly

Center

8 Los Angeles — Garden

State Plaza

8 Newport Beach —

Fashion Island

8 Pasadena — 35 N. De

Lacey Ave.

8 Rancho Mirage — The

River at Rancho Mirage

8 Redondo Beach — The

Galleria @ South Bay

8 Riverside — Galleria at

Tyler

8 San Bernardino — In-

land Center

8 San Diego — Mission

Valley

8 San Diego — University

Town Center

8 Santa Barbara — 901

State St.

8 Sherman Oaks — Sher-

man Oaks Fashion Square

8 Thousand Oaks — The

Oaks

8 Tustin (F21 Red) —

Tustin Marketplace

8 Valencia — Valencia

Town Center

8 Van Nuys (F21 Red) —

The Plant

8 Ventura — Pacific View

Ventura Mall

Forever 21 may close 26 stores in Southland

[Forever 21from C1]

The world’s largest venue
management company will
take shape in Los Angeles af-
ter a merger between the
global firm that owns Sta-
ples Center and hosts the
Emmys and a business that
manages entertainment
spaces including the Greek
Theatre.
AEG Facilities, owned by
Denver billionaire Philip An-
schutz, will combine with
Pennsylvania-based SMG
to form ASM Global, a new
entity owned jointly by AEG
and private equity firm
Onex, SMG’s parent com-
pany. ASM’s vast portfolio
spans more than 300 arenas,
convention centers and
other venues across five con-
tinents, including Staples
Center in Los Angeles and
Dignity Health Sports Park
in Carson.
The new company will be
headquartered in Los Ange-
les with key operations
based in West Con-
shohocken, Pa., a suburb of
Philadelphia. The company
will be led by Bob Newman,
who formerly served as pres-
ident of AEG Facilities. Wes

Westley, former CEO and

president of SMG, will focus

his efforts on “key strategic

growth initiatives and en-

suring a seamless integra-

tion,” according to a Tues-

day news release.

“This is a merger of very

complementary compa-

nies,” Newman said.

He noted that AEG owns

and runs venues, while SMG

primarily provides manage-

ment services. AEG has a

large footprint in Australia,

and SMG has an established

presence in Britain. SMG is

a premier operator of con-

vention centers while AEG’s

background is as an arena

developer and operator.

“We will have this amaz-

ing global platform to serve

this industry that is growing,

and to focus on the live event

experience,” Newman said.

The company plans some

restructuring as part of the

merger, but Newman said he

does not anticipate layoffs at

this time.

Newman started as an in-

tern at SMG right out of

graduate school in 1986 and

stayed with the company for

20 years before moving to

AEG, where he has worked

for the last 12 years.

AEG will retain owner-

ship of its venues, including

Staples Center and L.A.

Live’s Microsoft Theater,

where the Emmys have been

held since 2008, but services

to its facilities will be pro-

vided by the jointly owned

ASM Global. AEG recently

announced it would estab-

lish a regional headquarters

in Singapore, underscoring

its expansion aims in Asia.

AEG also recently acquired

all outstanding shares in

AXS, a ticketing system, giv-

ing it 100% ownership.

The company has a his-

tory of supporting Olympics

facilities, including at the

London 2012 and Beijing

2008 Games, and will be in-

volved in the 2028 Summer

Olympics in L.A., Newman

said.

Staples Center

meets the Greek

in mega merger

PHILIP ANSCHUTZ’S
AEG Facilities will be
part of ASM Global.

Mark J. TerrillAssociated Press

AEG joins SMG to

create No. 1 venue

management firm.

By Suhauna Hussain

A

B

C

D

E

F

G

H

I

J

K

L

M N

O

P

Q

10 MILES R

HH

II

JJ

RR

GG

AA

BB

CC

DD

EE

FF

KK

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NN

MM

PP

QQ

OO

AT&T

Altadena, Mon.-Tue.
The Corner Shop

Xfinity
Woodland Hills, Mon.
MJZ

J.C. Penney
Sherman Oaks, Mon.
Spears & Arrows

Cyber Bully

Encino, Fri.

Cyber Project

Blonde
Brentwood, Mon.-Tue.
Brunette Productions

Hater
Arlington Heights, Wed.-Fri.
Dance Saves Lives

Party of Five

Santa Clarita, Mon.-Fri.

Woodridge Productions Inc.

Generation

Chatsworth, Mon.-Thu.

Turner Broadcasting System

Inc.

The Stranger

Hollywood Hills, Mon.

Pacific 2.1 Entertainment

Group Inc.

The Real Housewives of

Beverly Hills

Beverly Hills, Tue.

EFT Media Productions

Hollywood

Hollywood, Mon.-Tue.

Netflix Inc.

True Love Story

Downtown L.A., Thu.

True Love Story

Cherish the Day

Venice, Mon.-Tue.

Horizon Scripted Television

Inc.

Home Made Simple

Westchester, Wed.

Green Harbor Productions

NCIS: Los Angeles

Pico-Robertson, Mon.

CBS Corp.

Toyota Supra
Echo Park, Tue.
Omaze Inc.

Young Rich & Pregnant
Santa Clarita, Sat.-Sun.
Blue Sky Films

Lies for Rent

Van Nuys, Tue.-Sat.

Companion Films

Television

Overall shoot days were down 13% last week for TV, film and

commercial shoots in the Los Angeles area compared with the

same period last year, according to FilmL.A. Inc.

Sources: FilmL.A. Inc.; cities of Beverly Hills and Santa Clarita

Thomas Suh Lauder Los Angeles Times

Note: Permits are subject to
last-minute changes.

Production days for three main categories

Sampling of permitted shoots this week

-15% -23% -3%

Sept. 23-29, 2019 (473 total shoot days)

Sept. 24-30, 2018 (546 total shoot days)

295 56 122

347 73 126

Television Features Commercials

Commercials

Features

2

5

5

5

10

405

210

210

LOS ANGELES COUNTY

101

101

Los Angeles

60

170

118

710

605

110

14

Where the cameras roll

Media executives Elisa-

beth Murdoch, Stacey

Snider and Jane Feather-

stone have launched an en-

tertainment production

company called Sister, capi-

talizing on the growing de-

mand for content among

streaming services.

The new firm, based in

London with additional of-

fices in Los Angeles, will de-

velop movies and TV shows

with a focus on supporting

new and visionary talent,

the women said in a state-

ment. The company will be

built on the foundation of

Featherstone’s Emmy

Award-winning indie pro-

duction house, Sister Pic-

tures.

Murdoch, daughter of

Rupert Murdoch, is the lead

investor in the new venture

and will serve as executive

chairman. Snider, the for-

mer 20th Century Fox Film

chair, and Featherstone, the

television producer and for-

mer Shine executive, are

also investing. Financial de-

tails of the investment were

not disclosed.

The move comes as ma-

jor media companies are

spending top dollar for con-

tent to gird for the streaming

wars with Netflix and Ama-

zon.com. A decade ago,

there was little appetite for

independent productions

beyond art-house films, but

the growth of streaming

platforms has revitalized

the market for independent

producers.

The announcement ends

months of speculation over

what Snider’s next move

would be after exiting Fox

following that company’s ac-

quisition by Walt Disney Co.

in March. Before her tenure

at Fox, Snider was a top exe-

cutive at Steven Spielberg’s

DreamWorks and at Uni-

versal Pictures, where she

oversaw franchises such

as “The Mummy” and

“American Pie” and criti-

cally acclaimed movies in-

cluding “Brokeback Moun-

tain.”

Snider had been consid-

ered a candidate to replace

Warner Bros. Chief Execu-

tive Kevin Tsujihara, but the

job went to former BBC exe-

cutive Ann Sarnoff.

Featherstone will be-

come head of Sister London

and Snider will serve as glob-

al chief executive and head

of Sister LA.

Sister Pictures, known

for shows including HBO’s

“Chernobyl” and the British

drama “Broadchurch,” has a

staff of 26 in London, the

company said. In 2019, it pro-

duced 25 hours of scripted

television, which will rise to

32 hours in 2020.

“We are fortunate to be

well capitalized to have the

independence and confi-

dence to write our own rules,

to be bold and bespoke in the

choices we make, and to uti-

lize our resources to champi-

on visionary storytellers,”

the women said in a state-

ment. “And to those story-

tellers we say — come and be

brave, come and be rebel-

lious, come and do your best

work.”

Upcoming titles include

Season 2 of “The Split” for

BBC One, an adaptation of

Naomi Alderman’s novel

“The Power” for Amazon,

and Adam Kay’s adaptation

of his international best-

seller “This Is Going to

Hurt” for the BBC.

The London-based Mur-

doch, who once worked

within the family empire,

has emerged as its leading

second-generation entre-

preneur by launching a

number of start-ups. In ad-

dition to the Shine TV pro-

duction company, which

produces “MasterChef ” and

“The Island With Bear

Grylls,” she has gained suc-

cess with Vertical Networks,

a Los Angeles supplier of

app-based content for

mobile devices.

Snap, the parent of

Snapchat, is a minority in-

vestor in Vertical Networks,

which makes shows for

Snapchat, Facebook and

YouTube.

Times staff writer Meg

James contributed to this

report.

THE FOUNDERS of Sister are, from left, high-profile media executives Jane Featherstone, Elisabeth Mur-

doch and Stacey Snider. Streaming platforms have revitalized the market for independent producers.

Luke VarleySister

With new production firm,

execs declare independence

Venture envisions streaming content by ‘brave,’ ‘rebellious’ storytellers

By Ryan Faughnder