LA BUSINESS JOURNAL DAILY NEWS

Patrick Soon-Shiong Pulls Out of Phoenix Biomedical Complex Plan

Biotech billionaire Patrick Soon-Shiong’s plan to build a 7-acre biomedical complex in Phoenix in partnership with the city and Arizona State University is not moving forward, according to local media.

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Silicon Beach Report June 22: VR Playhouse Launches Virtual Reality Training Program

VR Playhouse launches virtual reality training program, USC to lead quantum computing project and sneaker marketplace Goat hires former Twitter executive.

Metro Board Approves $1.4 Billion Budget for 11.5-Mile Extension of Foothill Gold Line Light Rail to Claremont

The Los Angeles County Metropolitan Transportation Authority board of directors on Thursday approved a $1.4 billion budget and related partnership agreements for an 11.5-mile extension of the Foothill Gold Line light rail route from Glendora to Claremont.

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UCLA, Miller Children’s Hospitals Partner to Expand Child Health Services

UCLA Mattel Children’s Hospital and Miller Children’s and Women’s Hospital Long Beach announced the formation of a strategic alliance on Thursday.

VR Playhouse Launches Virtual Reality Training Program

Glassell Park-based boutique studio VR Playhouse has launched an educational program meant to attract students, artists, developers and directors to the virtual reality industry, according to a company statement.

Appeals Court Upholds Ruling Overturning Malibu Measure Limiting Chain Stores

A state appeals court has upheld a lower court’s ruling that Malibu can’t limit chain stores or force major projects to be put to a vote of the people.

Koreatown Apartments Sell for $10.5 Million, Slated for Demolition

A Woodland Hills-based real estate investor has purchased five apartment buildings in Koreatown for $10.5 million with plans to tear down the properties, according to CBRE, which represented the seller.

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Central City Association Expands Board; Adjusts Advocacy Priorities

The Central City Association representing downtown property owners and businesses announced Wednesday that it has expanded its governing board to 15 members and has adjusted its advocacy priorities to include more of a focus on housing and addressing homelessness.

Silicon Beach Report June 21: Education Software Startup GoGuardian Launches AI Platform

Education software startup GoGuardian launches AI platform, Snapchat launches Snap Map and BlockFraud raises $5 million.

Education Software Startup GoGuardian Launches AI Platform

El Segundo-based education software startup GoGuardian has launched Admin 2.0, a platform that uses artificial intelligence to enhance students’ behaviors online, according to a statement.

Daiso Inks Lease at Former American Apparel Distribution Center

Daiso California is taking over American Apparel’s former worldwide distribution center, a 220,000-square-foot warehouse in La Mirada owned by Prologis Inc.

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Silicon Beach Report June 20: Hyperloop Transportation Technologies Partners With South Korea

Hyperloop Transportation Technologies Partners with South Korea, AEG invests in e-sports team Immortals, Chinese tech company invests $179 million in Newegg, and more.

Hangzhou Liaison Interactive Information Technology Co. Invests $179 Million in Newegg Inc.

A Chinese tech company announced Tuesday that it would invest more than $179 million to increase its stake in online electronics retailer Newegg Inc. to almost 94 percent from 55.7 percent, according to Bloomberg.

Spanish Broadcasting System’s Century City Office Fetches $14.7 Million

Miami-based Spanish Broadcasting System Inc. has sold its Century City office building in a fast-tracked deal that the buyer said was brought about by financial pressures.

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Hyperloop Transportation Technologies Partners With South Korea

Hyperloop Transportation Technologies has announced new partnerships with South Korean entities as it moves forward on its plans to implement its patented technologies in South Korea.

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AEG Invests in E-sports Team Immortals

E-sports is finding a home in downtown. Anschutz Entertainment Group announced an investment in e-sports franchise Immortals that makes it a team owner and home-venue operator for the team.

Silicon Beach Report June 19: Snap Signs $100 Million Deal With Time Warner

Snap signs $100 million deal with Time Warner, Garcetti, Musk discusses tunnel possibility and cloud service company wants $550 million.

Snap and Time Warner Sign $100 Million Content Deal

Snap Inc. and Time Warner Inc. announced a global partnership to develop made-for-Snap shows over the next two years. The deal, reportedly valued at $100 million, will include both entertainment and advertising content.

Dearden’s Puts Prime Downtown Property On Market

The pending closure of 107-year-old Southern California furniture chain Dearden’s is putting its local real estate portfolio into play.

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Commerce Owner of Papaya Clothing Files for Bankruptcy

Cornerstone Apparel Inc., the Commerce-based owner of teen retailer Papaya Clothing, filed for bankruptcy in U.S. bankruptcy court in Los Angeles last week.

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