George Glover

The out-of-control wildfires that raged through Los Angeles late Tuesday spread overnight, burning down buildings and forcing tens of thousands to flee.

California Gov. Gavin Newsom, who declared a state of emergency Tuesday, said in a statement early Wednesday that over 44,000 people had been ordered to evacuate, with about 40,000 structures under threat.

The main blaze raged through the Pacific Palisades neighborhood in the northwest of Los Angeles, a part of LA County. It had spread across nearly 3,000 acres and was still 0% contained early Wednesday, according to the Los Angeles Fire Department.

National Weather Service meteorologist Frank Pereira told The Wall Street Journal that the blaze could get worse due to powerful Santa Ana winds that won't ease until later this week.

Shares of Walt Disney slid 1.3% to $109.95 on Wednesday. The entertainment company hadn't shut its Disneyland resort in Anaheim early Wednesday, but might have to if the fire spreads south. Even if it did, a one- or two-day shutdown would be unlikely to put a big dent in the House of Mouse's revenue, although an extended closure could have more of an impact.

Disney, Warner Bros. Discovery film studio Warner Bros., and Ticketmaster owner Live Nation Entertainment are among the publicly listed companies based in LA County.

Write to George Glover at george.glover@dowjones.com

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January 08, 2025 10:35 ET (15:35 GMT)

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