LA BUSINESS JOURNAL DAILY NEWS
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.
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.
Movers for Week Ending June 16, 2017
Culver City's NantKwest Inc. was the week’s biggest gainer, jumping 54 percent to close at $6.48. Sherman Oaks-based Real Industry Inc. came in second, rising 15 percent to close at $3.05. Commerce's Smart & Final Stores Inc. was the week’s biggest laggard, dropping 32 percent to close at $9.10.
L.A. County Unemployment Rate Falls to New Record Low of 4.4 Percent Amid Steady Job Gains
L.A. County’s unemployment fell to a new record low of 4.4 percent in May amid steady job gains, state figures released Friday show.
Leadership Transition for Business Journal
Matt Toledo will end his 23-year tenure as publisher and chief executive of the Business Journal and become chief executive of Encino-based ProVisors, a leading business-to-business networking organization for professionals.
Nestle Considering Sale of U.S. Candy Business
Nestle is considering a sale of its U.S. candy business, the Swiss-based conglomerate with headquarters in Glendale announced on Thursday.
Truck Drivers, Warehouse Workers Plan Strike at Ports
A group of truck drivers and warehouses workers set a date of June 19 for a strike at the ports of Long Beach and Los Angeles.
Silicon Beach Report June 15: Scopely Raises $60 Million
Scopely raises $60 million, VentureDevs to open West Hollywood office, and tech startup HelloTech powers Altice service.
ArcWest Partners Acquires Historic Silver Lake Office Building
Downtown’s ArcWest Partners announced Wednesday the firm has acquired a 30,000-square-foot historic office building in Silver Lake.
VentureDevs to Open West Hollywood Office
International venture development firm VentureDevs has found a home in Los Angeles County, announcing plans to open a West Hollywood office by September.
Scopely Raises $60 Million
Mobile game producer and distributer Scopely has closed a $60 million Series C funding round led by former AOL executives at Washington, D.C.-based Revolution Growth, according to a press release filed Wednesday.
Inglewood Poised to Approve Exclusive Negotiation Agreement with L.A. Clippers for New Arena
The Inglewood City Council is set to vote tomorrow to approve an exclusive negotiation agreement with the Los Angeles Clippers for an NBA arena in the city.
Environmental Group Sues Air Agency Over Approval of Tesoro Refinery Merger
A local environmental group on Wednesday filed a lawsuit seeking to overturn the South Coast Air Quality Management District’s recent approval of environmental reports for Tesoro Corp.’s plan to merge operations of its two refineries in Carson and Wilmington.
Silicon Beach Report June 14: Mayor Garcetti Announces Youth Tech Jobs Program
Mayor Garcetti plans tech jobs for L.A.’s youth, insurance mobile app startup Sure raises $8 million, and computer software company Datum Security acquired by Prevalent.
Ares Management and TruAmerica Multifamily Acquire Arizona Apartment Building in $30 Million Deal
Subsidiary funds of asset management firms Ares Management and TruAmerica Multifamily announced Tuesday they have acquired a 240-unit apartment building in Avondale, Ariz., in a transaction valued at nearly $31 million.
OpenGate Capital Accused of Selling Facility Used by Mexican Drug Cartel
An L.A.-based private equity firm is being called into court for the allegedly fraudulent sale of a property in Mexico that the buyer says has ties to a drug cartel run by Joaquín “El Chapo” Guzmán.
Silicon Beach Report June 13: Snap Inc. Signs Data Subscription Deal With Factual
Snap Inc. signs data subscription deal with Factual, storage startup Clutter raises $64 million, and baby food subscription service Yumi raises $4.1 million.
Snap Inc. Signs Data Subscription Deal With Factual
Factual Inc. announced on Tuesday that it signed a deal to sell its location data to Snap Inc. for use in Snapchat.
City Planners Release Revised Hollywood Community Plan
L.A. city planners on Tuesday released a revised community plan to steer development in Hollywood, more than three years after a judge threw out an earlier plan citing faulty growth assumptions.