Monday morning headlines

Stocks open higher: Google's big purchase of Motorola's cell-phone business is no doubt helping. Still.... Dow is up 100.

Google to buy Motorola Mobility: The $12.5 billion acquisition means that Google will become a cellphone manufacturer, in direct competition with Apple. Also, don't forget the 25,000 patents that Google inherits. From the DealBook:

While the acquisition will move Google directly into the telecommunications hardware business, Larry Page, Google's chief executive, said in a blog post that "this acquisition will not change our commitment to run Android as an open platform. Motorola will remain a licensee of Android and Android will remain open. We will run Motorola as a separate business."

Disney shuts down "Lone Ranger": Budget issues did in the film, which was to star Johnny Depp as Tonto and Armie Hammer as the title character. Deadline Hollywood reported that the filmmakers wanted to spend $250 million; Disney wanted $200-million.

California scrutinizing nonprofits: The state has been denying property tax exemptions to an increasing number of groups because they do not provide enough to benefit residents. From the NYT:

The state has a two-tiered system, in which nonprofits first apply to the Board of Equalization, which collects state-mandated fees, sales and sin taxes and certifies exemption eligibility. But assessors in each of the state's 58 counties make the final decision on exemptions, after determining whether that property is used in a way that is of "primary benefit" to California. The meaning of "primary," however, is widely interpreted.

Relativity Media moves into China: The U.S. studio will invest in a Chinese-based entertainment company, as it looks to create TV shows and movies. A number of U.S. media companies are making forays into China. (LAT)

Council to review solar program: The DWP pulled back on the rebates, and not everybody is happy, especially the local solar industry. (City Maven)