LA BUSINESS JOURNAL DAILY NEWS

Pasadena Apartment Complex Sells for $14M

A 45-unit apartment building in Pasadena has sold for $14 million, CBRE Group Inc. announced Jan. 10.

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Corridor Capital Sells Off Wetmore Tool & Engineering Company

Private equity firm Corridor Capital announced Wednesday the sale of Chino-based tool-manufacturing company Wetmore Tool & Engineering Company to Dormer Pramet, a subsidiary of the Sweden-based Sandvik Machining Solutions.

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Showtime Announces West Coast Headquarters in West Hollywood

Showtime Networks Inc. announced Jan. 9 a new West Coast headquarters at The Lot Studios in West Hollywood.

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PacWest Terminates Pending Acquisition With El Dorado Savings Bank

Beverly Hills-based PacWest Bancorp said Wednesday that it terminated its previously announced agreement to buy El Dorado Savings Bank after the latter bank’s shareholders failed to support the transaction, due to a drop in bank values over the past year.

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Silicon Beach Report Jan. 9: Bird Seeks Additional $300 Million

Former Comcast executive hired by Jukin Media; new executives at Activision Blizzard; Bird seeking new funding.

Herbalife Names Michael O. Johnson as Interim CEO, Replacing Richard Goudis

Downtown-based supplement company Herbalife Nutrition Ltd. said that Michael O. Johnson, currently the executive chairman who led the company from 2003 to 2017 as CEO, will reassume the role as CEO on an interim basis following the resignation of current CEO Richard Goudis, effective immediately.

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UPDATED: MedMen Sued by Shareholders

Shareholders that own a stake in MedMen Enterprises Inc. filed a lawsuit against the company in Los Angeles County Superior Court Jan. 8, alleging a breach of fiduciary duty.

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MedMen Strikes Deal with Treehouse REIT for $100M in Real Estate

Treehouse Real Estate Investment Trust, a cannabis REIT, will acquire $100 million of real estate from Culver City-based MedMen.

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Century City PR Firm Lieberman Research Worldwide Purchases Killer Infographics

Lieberman Research Worldwide Inc., a Century City public relations firm, has acquired Killer Infographics, a Seattle marketing company focused on graphic and visual art, according to a Jan. 8 press release.

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MJIC Continues Push for Public Listing

Commerce-based MJIC Inc., a cannabis logistics company building a network of distribution hubs in California, said it’s moving forward with its plans to go public.

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Parsons Acquires Imaging, Mapping and Data Analytics Firm OGSystems

Pasadena-based engineering and security consulting firm Parsons Corp. announced Jan. 8 that it has acquired OGSystems, an imaging, mapping and data analytics company based in Chantilly, Va., for an undisclosed sum.

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Parkview Provides $29M Loan for Koreatown Condo Development

Los Angeles-based Parkview Financial has provided a $29 million loan to refinance the construction of an 80-unit condominium complex in Koreatown. The project is partially completed.

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Silicon Beach Report Jan. 8: Hulu Reports 25 Million Subscribers

Fox Sports Digital announces Women’s World Cup content; Fandango inks deal with IMAX; Hulu grows subscriber base.

CalEdison Refinanced in Deal Pegged at More Than $100M

The CalEdison, a well-known art deco building in downtown Los Angeles, has been refinanced.

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Google Leasing 584,000 SF at Westside Pavilion

Google is nabbing even more space in L.A. The tech giant has agreed to lease the entirety of Hudson Pacific Properties and Macerich’s 584,000-square-foot Westside Pavilion redevelopment. The long-rumored lease was announced by the companies Jan. 8.

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Levine Leichtman Closes $2.5B Fund

Beverly Hills-based Levine Leichtman Capital Partners has closed Levine Leichtman Capital Partners Fund VI, L.P., a $2.5 billion fund.

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SoCal Gas Names New President, New COO

Southern California Gas Co.’s new chief executive Bret Lane on Jan. 7 announced two members of his leadership team: Maryam Brown as president and Jimmie Cho as chief operating officer.

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Silicon Beach Report Jan. 7: Allen, DiMaria Join Rainn Wilson’s SoulPancake

Ring offers new products; Government shutdown delays SpaceX launch; SoulPancake hires new executives

Santa Monica E-sports Company Files $25 Million IPO

Super League Gaming Inc., a Santa Monica company that organizes amateur e-sports competitions, filed a $25 million initial public offering with the Securities and Exchange Commission Jan. 4.

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Brown Appoints UTA Co-President Jay Sures to UC Regents

Gov. Jerry Brown named Jonathan “Jay” Sures, United Talent Agency’s current co-president, to the UC Board of Regents Jan. 4, a move that comes 48 hours before Brown ends his gubernatorial term.

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