CALIFORNIA — From an increase in brick-and-mortar store closures to a 7-bed condemned house selling for under $1 million, a lot is going on in California business news this week.
This week, Sony Pictures became the first major Hollywood studio in 75 years to buy a movie theater chain. Auditors warned one Southern California city might lose up to $301 million as the state transitions away from crude oil production.
Check out the highlights of this week in California business news on Patch:
Store Closures Surge In CA: See List Of Retailers Shutting Doors
An increase in store closures over last year comes in part as the industry adjusts to a shift in consumer shopping to online outlets.
Condemned 7-Bed House Sold For $700K In San Jose
The colorful home that currently sits on the lot will have to be significantly overhauled or rebuilt.
Oil Revenue Decline Could Impact Essential Services In SoCal City
With the anticipated transition away from crude oil and natural gas production in California, Long Beach officials are projecting the city will have a decline in oil revenue up to $301 million by 2035.
Sony Pictures Buys Alamo Drafthouse Theater Chain
Sony Pictures Entertainment on Wednesday announced it has acquired Alamo Drafthouse Cinema, the nationwide chain of 35 movie theaters geared toward film buffs.
3 San Diego Companies Among Nation’s Largest: Report
America’s Finest City is home to three Fortune 500 companies.
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Read More: Ross, CVS Closures + Condemned House Sold For $700K: CA Business News