Los Angeles Business Journal


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Facebook’s Use of Cloned Snapchat Features May Step on Snap’s Growth

INTERNET: Social Media Giant Not Playing to Make Friends

Snap may have little legal recourse as Facebook scores big with cloned Snapchat features.

ICM Partners Hires Political Strategist Hannah Linkenhoker

ICM Partners has hired political strategist Hannah Linkenhoker to offer advisory services to clients interested in issue-oriented political engagement, the talent and literary agency announced Wednesday. Linkenhoker joins the agency from NMA Consulting Partners, which has offices in L.A. and San Francisco, where she has served as managing director since 2015.

Tronc Zooms In On Us Weekly Magazine Acquisition

Tronc Inc. is in talks to buy celebrity magazine Us Weekly for $85 million to $95 million, according to media analyst Ken Doctor.

NBCUniversal Invests $500M in Snap

NBCUniversal made a strategic investment of $500 million in Snap Inc. as part of the Venice app maker’s initial public offering on Thursday.

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E-sports Teams Draw Pro Players With Money, Management

Scoring Talent

Gamers have become hot commodities as e-sports teams make a play for a bigger audience.

DTLA’s Angels Flight Railway to Reopen by Labor Day

The historic but troubled Angels Flight railway in DTLA will reopen to the public by Labor Day, Los Angeles Mayor Eric Garcetti announced Wednesday.

Officials Break Ground on $1.6 Billion LAX International Terminal

Los Angeles Mayor Eric Garcetti and airport officials broke ground Monday on a new $1.6 billion international terminal at the Los Angeles International Airport.

SBE to Open Its First Hotel in the Middle East

Luxury hospitality company SBE is scheduled to open its first hotel in the Middle East this spring, the company announced this week.

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L.A. Times’ Parent, tronc, Posted Profit in 2016, But Digital Efforts Lagged

MEDIA: Positive News for Paper?

Los Angeles Times’ parent, tronc, saw a profit last year but its digital efforts have yet to click.

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Owners Look to Sell Print Publications as Ad Revenue Dwindles

Paper Pushers

Declining ad revenue has forced some local publications to print up for-sale signs.

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Abrupt Exec Exit Leaves Satellite Business at Loss

INTERNET: Global Eagle’s shares in tailspin in wake of quick departure of top brass.

Shares of in-flight internet firm Global Eagle fall to Earth after a front-office shakeup.

Canvassing of Art Website Yields $36 Million Deal

INTERNET: Wix’s pickup of DeviantArt almost derailed by shaky fall appointment

Israeli web development company Wix said last week that it had purchased popular West Hollywood-based online artist platform DeviantArt for $36 million, including $3 million in assumed debt.

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Toymaker Aims to Make Play for Chinese Market

MANUFACTURING: Mattel partners with Alibaba with eye on forming media tie-ins.

In a move that appears to follow in the footsteps of rival toymakers Lego Group and Hasbro Inc., El Segundo’s Mattel Inc. partnered on Feb. 14 with Chinese e-retailer Alibaba Group to develop content centered on Mattel brands for Chinese consumers.

DeviantArt Sold to Israeli Web Developer for $36 Million

Israeli web development company Wix announced Thursday the purchase the of popular West Hollywood-based online artist platform DeviantArt for $36 million, including $3 million in assumed debt.

Magic Johnson Named Lakers’ President of Basketball Operations

Earvin “Magic” Johnson has been named president of basketball operations for the Los Angeles Lakers, according to a Tuesday announcement from the team’s president and co-owner, Jeanie Buss.