IPO FILING: Demand Media Inc. has filed for an initial public offering that could raise up to $125 million. The Santa Monica media company, which creates Internet content tailored to advertisers, said the money would be used to expand its operations internationally and for various general business purposes. The company, led by former MySpace Chief Executive Richard Rosenblatt, had a breakthrough in April when it announced a deal with Gannett Inc. to supply travel articles to USA Today’s website. Demand hasn’t shown a profit since its founding in 2006.

TAX HOLIDAY: New businesses in the city of Los Angeles will not have to pay business taxes for their first three years of operation under an ordinance unanimously approved by the Los Angeles City Council. The ordinance extends the new-business exemption from two years to three years and removes a $500,000 revenue cap for businesses to qualify for it. The three-year exemption takes effect this tax year and extends to 2011 and 2012. After that, the exemption goes back to two years.

PLAZA PLAN: Michael Rosenfeld, owner of Hyatt Regency Century Plaza hotel, who once proposed tearing down the historic building, has unveiled a plan for a high-rise real estate development that preserves the landmark. The $1.5 billion proposal calls for two 46-story skyscrapers filled with condominiums, shops and offices to be built behind the hotel.

NEW CREDIT: Kilroy Realty Corp.’s operating partnership has closed a half-billion-dollar unsecured revolving-credit facility. The L.A. real estate investment trust, with a portfolio including office, industrial and multipurpose properties, said that Kilroy Realty LP plans to use the credit for general corporate purposes, including funding acquisitions and repaying debt. The REIT’s properties are primarily in the coastal regions of Los Angeles, Orange and San Diego counties, and the Bay Area.

ANOTHER EXTENSION: Activist investor Carl Icahn has extended until Oct. 22 the deadline for shareholders of Lions Gate Entertainment Corp. to accept his buyout offer. Icahn, the Santa Monica studio’s largest single shareholder, said the extension from the original Aug. 25 date will give the Supreme Court of British Columbia, where Lions Gate is based, time to hear a lawsuit he filed against the film and TV studio. He is protesting a debt-for-equity swap by the company in July that diluted his stake and increased that of a company-friendly board member.

ACQUISITIONS: L.A. engineering services giant Aecom Technology Corp. has announced two acquisitions with a combined price tag of $679 million. McNeil Technologies, a defense contractor based in Springfield, Va., was purchased for $355 million. Davis Langdon, a project management firm based in London, was acquired for $324 million.

NEW CAPITAL: MannKind Corp. has entered into two agreements to sell up to 36.4 million of its common shares over the next year to raise cash and pay down debt. The sales could raise about $240 million or more for the company, whose inhaled insulin therapy for diabetes is awaiting U.S. regulatory approval. In one of the stock deals, MannKind will sell shares to Seaside 88, a private investment limited partnership. In addition, Mann Group LLC, controlled by company founder and Chief Executive Al Mann, will buy shares in exchange for reduction of about $130 million in MannKind debt held by the group.

ALTERNATIVE ENERGY: Element Power U.S. LLC has proposed a large combination wind and solar energy project in the western Antelope Valley. The project would be on a 2,200-acre parcel Element Power recently purchased from the operators of a horse ranch about 20 miles west of Lancaster, just west of the Antelope Valley California Poppy Reserve. Element said the project could generate up to 230 megawatts, or power for up to 70,000 single-family homes.

EARNINGS: Walt Disney Co. reported second quarter net income of $1.33 billion, 40 percent higher than a year earlier. Revenue rose 16 percent to $10 billion. … Lions Gate Entertainment Corp. reported a net loss of $64.1 million, compared with net income of $36.3 million a year earlier. Revenue fell 14 percent to less than $327 million. … THQ Inc. reported a first quarter net loss of $30.1 million, compared with net income of $6.4 million a year earlier. Revenue fell 31 percent to $160 million. … Tutor Perini reported second-quarter net income of $32.7 million, 16 percent lower than a year earlier. Revenue fell 34 percent to $914 million. … Macerich Co. reported a second quarter net loss of $400,000, 98 percent smaller than a year earlier. Funds from operations rose 29 percent to 78 million. … Crown Media Holdings Inc. reported a second quarter net loss of $8.9 million, 68 percent larger than a year earlier. Revenue fell 4 percent to $65.7 million. … Overhill Farms Inc. reported third quarter net income of $930,000, 64 percent less than a year earlier. Revenue fell 20 percent to $43.4 million. … American States Water Co. reported second quarter net income of $9 million, 22 percent lower than a year earlier. Revenue rose 4 percent to $95.5 million.


The bridge in a photo, shown here, that accompanied the Aug. 9 Trade & Transport column was misidentified. It is the Vincent Thomas Bridge.

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An article in the Aug. 9 issue headlined “Lessons Learned” incorrectly stated Cramster’s projected revenue. The company expects revenue to reach $25 million by 2012.

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