LA BUSINESS JOURNAL DAILY NEWS
Bruce Blomstrom, Co-Founder of Pasadena BioScience Collaborative, 80
Bruce Blomstrom, a co-founder and longtime president of the Pasadena Bioscience Collaborative Incubator, has died. He was 80.
City of Long Beach Seeks Operator for its Community Medical Center, Set to Close
The City of Long Beach will enter into negotiations for a new operator to run its Community Medical Center Long Beach, as closure looms after discovery of an active earthquake fault.
SnackNation Acquires EdgiLife
Culver City-based SnackNation which curates healthy snacks delivered to offices and homes announced June 20 the acquisition of EdgiLife Media Inc. and its brand, Love With Food. Terms of the deal were undisclosed.
Disney Outbids Comcast With New $71.3B Offer for Fox
Burbank-based Walt Disney Co. offered $71.3 billion in cash and stock for the film and television assets of 21st Century Fox , outbidding Comcast, which placed a $65 billion all-cash bid for Fox earlier this month.
Silicon Beach Report June 19: Torrance Company Contracted by Homeland Security
Torrance company contracted by Homeland Security; Quest International expands in Europe; Scratchpay gets $6.4M in series A funding
$40 Million Fund Launched for Real Estate Startups, Tech
CBRE Group Inc., RXR Realty and Cushman & Wakefield are investors in MetaProp
New York-based real estate venture capital firm MetaProp has launched a $40 million fund that has attracted CBRE Group Inc., RXR Realty and Cushman & Wakefield.
Platinum Equity Sells Air Cargo Handling Company for $1.4 Billion
Beverly Hills-based Platinum Equity has sold air cargo handling company Worldwide Flight Services to affiliates of Cerberus Capital Management for nearly $1.4 billion, Platinum announced on June 19.
AcuraStem Gets $3.7 Million Grant to Treat ALS
AcuraStem Inc., a biotech company based in Monrovia, has received a $3.7 million fast-track grant to develop a treatment for Lou Gehrig’s disease.
Amoeba Music Plans Move, Marijuana
Amoeba Music will move from its current space at 6400 Sunset Blvd. to a new space nearby and owners hope to add marijuana to the retailer’s offerings of recorded music, movies and other pop-culture paraphernalia.
Scratchpay Lands $6.4M in Series A Funding
Eagle Rock’s Scratch Financial Inc., doing business as Scratchpay, announced June 19 that it received $6.4 million in series A funding. Underwriting for this round of funding was provided by Companion Fund, a $100 million pet-centered venture capital fund, as well as Struck Capital, TTV Capital and SWS Venture Capital.
Children’s Hospital L.A. Offers Genetic Cancer Test to New Hospital Consortium
Children’s Hospital Los Angeles has joined a national consortium of pediatric hospitals that will employ its personalized cancer treatment for children.
Silicon Beach Report June 18: Robot Maker Gets $22 Million Series A
$22 million raised by Pasadena Robotics Co.; MindSpark acquired by Auticon; Sure Inc. expands to rideshare insurance
Soon-Shiong Seeks Seat on Board at Tribune; Announces Opening of Downtown L.A. Times Office
Patrick Soon-Shiong said that he will seek a seat on the Tribune Co. board now that his $500 million purchase of the Los Angeles Times and other California News Group holdings was finalized on June 18.
Create Advertising Moving to 42,000 SF in Mid-Wilshire
Entertainment advertising agency Create Advertising Group has signed an 11-year lease for 42,000 square feet of office space at the Harbor Building at 4201 Wilshire Blvd in the Mid-Wilshire area.
Molina Venture Buys Long Beach Post
Pacific 6 Enterprises, a group headed by John Molina, has bought the Long Beach Post and added seven staff members to the online news publication, according to a June 18 announcement provided to the Business Journal.
BNY Mellon Wealth Management Hires Chuck Long to Run L.A. Office
BNY Mellon Wealth Management has named financial veteran Chuck Long to serve as regional president of its Century City office.
Three More Physicians Charged in $580M Kickback Scheme at Pacific Hospital
Three more doctors were charged in connection to an alleged $580 million kickback scheme linked to spinal surgeries at the defunct Pacific Hospital in Long Beach.
Silicon Beach Report June 15: Catasys Receives Debt Bailout, Activision Blizzard Hires Former Twitter Exec, Cargo Systems Launches in L.A.
Binns exits Twitter, Catasys lands $10 million, Cargo lands in L.A.
The Athletic to Hire Fleet of L.A. Sportswriters
The Athletic, a San Francisco-based sports journalism website, will hire seven full-time Los Angeles-based reporters effective June 18. Many of them will come from established Los Angeles publications.
Ride-Sharing Commerce Company Cargo Enters L.A
Cargo Services Inc., a mobile marketplace headquartered in New York City, announced June 14 that it is expanding to Los Angeles. The company, which allows Uber and Lyft drivers to receive complimentary boxes stocked with retail items, has already bought a warehouse in Ontario, Calif.