Los Angeles Business Journal

LABJ WEEKLY EDITION

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Mansion’s $250 Million Listing Priced to Light Fire Under Bids

Launching Pad

Sale price of $250 million would put Bel Air megamansion in a neighborhood all its own.

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Investment Fund Scores Hoops Star

Clippers’ Chris Paul joins with Turner Impact Capital to back creation of affordable housing.

Turner Impact Capital teams with basketball star Chris Paul on affordable housing.

Fast-Fashion Firm Proved Tough Fit

Bankrupt Nasty Gal sold to lone bidder in $20 million deal after competitive offers fail to appear.

Bankrupt Nasty Gal attracts only one suitor, Boohoo.com, in $20 million sale.

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Talent Agency Aims To Make Some News

ICM Partners takes step back into journalism business with pickup of Headline Media Management.

ICM Partners looks to re-establish its talent for representation in broadcast journalism.

PAGE 3: Votes of Confidence

It feels like the Big Election just ended and things ought to be quieting down. Instead, it’s even harder to avoid politics these days. Statewide, the race for governor is starting to warm up, and the leading candidates – Antonio Villaraigosa, Gavin Newsom, and John Chiang – are tapping L.A.’s wealthiest.

Rivals Feed Ad Revenue

INTERNET: MediaAlpha’s website placement strategy converts foes into friends.

MediaAlpha looks to sell clients on hosting ads for rival businesses.

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Hyperloop Firm Arrives

TRANSPORTATION: Exec at center of recent lawsuit launches new tube venture.

Hyperloop One founder doubles down on the technology with his new venture, Arrivo.

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Plan to Shutter Santa Monica Airport has Businesses’ Fate Up in Air

Set for Take-Off?

Plan to close Santa Monica Airport has some businesses there looking to land a new home.

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Musician Calls for Historic Decision on Mansion

REAL ESTATE: Taylor Swift likely to boost cachet but not price of ‘landmark’ home.

Singer Taylor Swift moves to tune up her Beverly Hills mansion with landmark status.

Federal Attention Buoys Stock of Aquifer Owner

WATER: Trump team puts Cadiz’s desert project on list of infrastructure investment.

Cadiz’s stock heats up as its desert aquifer project makes a federal infrastructure priority list.

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Ad Tech Firm Buys in to Sealing Deals for Clients

INVESTMENT: Centerfield expands service in sales with Qology Direct acquisition.

Ad tech firm Centerfield lands $156 million to help step into consumer sales side of scene.

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Church Building to Be Born Again as Office Space

REAL ESTATE: Developer has faith in property despite challenges of conversion.

Robert Herscu has laid his hands on a church property with the goal of an office conversion.

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Oscars Call on Businesses to Play Supporting Roles

ENTERTAINMENT: Local vendors boosted by awards include florists, chauffeurs.

Oscars provide golden opportunity for businesses such as florists and chauffeur services.

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Profit From In-Game Sales Not Easily App-arrent

INTERNET: USC report says transactions concentrated among few hits, big spenders.

There are winners and there are losers in the world of in-app purchasing.

Merrill Sticks With Fiduciary Rules Trump Targets

NVESTING: Rules put forth under Obama stay in place even as GOP seeks rollback.

Financial institutions have been stuck in an awkward position since the election of President Donald Trump as they try and figure out what direction his regulatory policies will take.

Stone Canyon Packs Up Dutch Firm in Second $2 Billion-Plus Acquisition

Stone Canyon Industries, which has deep ties to Michael Milken, continued its role as an active player in the M&A market last week, shelling out $2.3 billion to purchase industrial packaging and container maker Mauser Group.

Calendar

Calendar of Events

Conventions

Upcoming Conventions

Macy’s West L.A. Sale Could Signal Store Closure

REAL ESTATE: Retailer sells $50M building near expanding Century City site.

The recent sale of Macy’s Inc.’s Westside Pavilion location in West Los Angeles has cast doubt on the store’s future as the company progresses with plans to close about 100 retail sites nationwide.

Stuck in the Past

It is perhaps inevitable that there should be so much anxiety over the wave of development that has been washing over Los Angeles as the economy has recovered.

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Snap’s Challenges to Gain Increased Focus in Public

INVESTMENT: Message app will feel pressure to expand ad reach, age of user base.

Business Journal lays out five factors that could figure in to Snap’s first year as a public company.

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Paper’s Digital Offerings Have Yet to Deliver

MEDIA: L.A. Times’ parent, tronc, sticks by tech strategy.

After a year of digital focus, Los Angeles Times’ parent, tronc, has only a few positive results to report.

Market Preps to Snap Up Shares

INTERNET: IPO could mean billions to firm’s co-founders.

Snap’s IPO could create a new pecking order among L.A.’s billionaires and tech companies.

Debt Load Weighs Down True Religion’s Future

APPAREL: Jeans Stretched

Debt-laden jeans maker True Religion has struggled to stay in fashion with consumers.

Food Giant Follows Exodus out of L.A.

Nestle USA’s relocation of HQ to Virginia will leave 378,000 square feet open in Glendale.

Nestle USA to leave Glendale with an empty feeling when it relocates to Arlington, Va.

Flower Vendor Hits Pay Dirt in C Round

E-tailer Bouqs scores $24 million with intent to further grow roots in field packed with competitors.

C Series investors take a $24 million rooting interest in online flower vendor Bouqs Co.