Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Patch of Land Gets $250 Million Commitment

Real estate crowdfunding website Patch of Land of Westwood has signed an agreement with an undisclosed lender, who will purchase up to $250 million in loans, reports Crowdfund Insider.

eHarmony Matches Up With Industry Awards

There are many fish in the sea, and a new fleet of online matchmaking services offer fresh ways to reel in the perfect mate. At this year’s iDate Awards in Miami, however, the online dating industry recognized one of its oldest members, Los Angeles dating service eHarmony.

Major Chinatown Project Rethought

College Station, an ambitious Chinatown multi-purpose real estate project initially broached in 2014 by now-defunct developer Evoq, has been redesigned under the helm of Atlas Capital Group, which acquired Evoq, the Downtown News reported Wednesday.

Beyonce Film, ‘42nd Street’ Get State Tax Credits

The California Film Commission announced Wednesday that 13 new feature films, including 10 studio productions and three independent productions, were earmarked for the state’s expanded Film and Television Tax Credit Program in its second round of selections.

City Sues Massage Parlors

City Attorney Mike Feuer said has filed a lawsuit against Los Angeles-based massage salons after allegations their owners were operating a ring of brothels.

Lakers’ Buss Puts Penthouse on Market

Jim Buss, Los Angeles Lakers co-owner and executive, has put his penthouse in downtown Los Angeles up for sale at $8.8 million, the Los Angeles Times reported Wednesday.

Stocks Mixed

The Dow Jones industrial average fell 100 points in Wednesday trading to close at 15,915. The S&P 500 remained at 1,852 points. The Nasdaq rose 15 points to 4,284 points. The LABJ Stock index fell one point to 203.

READER POLL: Reports that Mattel may be in merger talks brings up an old question: Do you hate to see a big local company get bought by an out-of-town one?

Reports that Mattel may be in merger talks brings up an old question: Do you hate to see a big local company get bought by an out-of-town one?

Snapchat Signs Advertising Deal with Viacom

Snapchat has signed a multiyear deal to allow Viacom Inc. to sell advertisements on its app.

Disney Accelerator Parts Ways With Techstars

Walt Disney Co. of Burbank has parted ways with Techstars, the company running its accelerator program, reports the L.A. Times.

Dauman On The Defensive

New Viacom Inc. Chairman Philippe Dauman is already on the defensive after the media company fell short of revenue expectations for the fifth quarter in a row.

Top Silicon Beach Venture Capitalist Warns of ‘Bloodbath’

Mark Suster, a partner at L.A.’s largest venture capital firm, Upfront Ventures in Santa Monica, has warned that a major correction could be coming to the tech financing market.

Hasbro Chief Coy on Mattel Speculation

Following fourth quarter profits bolstered by sales of “Star Wars” toys, Hasbro Chief Executive Brian Goldner said he would be open to future deals, but would not comment specifically about recent speculation over prospective merger talks between his company and El Segundo toy giant Mattel Inc.

Happy Birthday Song Enters Public Domain

Warner Music Group and others who fought to hold the copyright on “Happy Birthday to You” – listed by the Guinness Book of World Records as the most recognized song in the English language - have given up their claims to the song.

Marijuana Company Turns Over New Leaf

A pioneer of the medical marijuana industry has been appointed to the advisory board of Santa Monica’s Marijuana Company of America, CNN Money reports.

Stocks Mostly Down

The Dow Jones industrial average fell 13 points in Tuesday trading to close at 16,014. The S&P 500 fell 1 point to 1,852. The Nasdaq fell 15 points to 4,269. The LABJ Stock Index remained at 204.

Gas-Leak Refugees Get Some Relief

Southern California Gas Co. announced Monday it has reached a new agreement with the city to extend the time allotted for displaced Porter Ranch residents to return home once the Aliso Canyon gas leak has been resolved.

Interest in Imagine Entertainment ‘Raines’ Supreme

Imagine Entertainment, anchored by Hollywood heavyweights Brian Grazer and Ron Howard, announced Monday that it has received a significant investment from the merchant bank the Raine Group.

Dollar Shave Club and Honest Co. Run Super Bowl Ads

Online retailers Dollar Shave Club and Honest Co. ran their first Super Bowl advertisements on Sunday, signifying a major push to expand each company’s brand. The Super Bowl commercials come as both companies aim to be better known among consumers and perhaps retail investors.

CBS CEO Moonves Eyes Digital Programming

CBS Corp. Chief Executive Leslie Moonves, who last week also became executive chairman, is using his expanded influence at the network to build a greater presence in the digital television realm, Reuters reported Monday.