LOS ANGELES COUNTY - News from Jan. 8, 1986

California Business, a monthly financial magazine based in Los Angeles, named William Blaylock editor.

Blaylock, San Francisco bureau chief of Time magazine, replaces Michael Harris, who has gone to work for Investors Daily.

California Business also named Sam Gwynne, 37, managing editor, replacing Margaret Hart. Gwynne is a former contributing editor at California magazine. The moves are part of a reorganization begun last fall when Karl Fleming, former Los Angeles bureau chief for Newsweek, became publisher.