Los Angeles Business Journal

Monday’s L.A. News Roundup

By Deborah Crowe Monday, August 20, 2012

TICKETING DEAL: The Ticketmaster unit of Beverly Hills’ Live Nation Entertainment Inc. on Monday said that it has signed a deal with the National Basketball Association to develop a software program for the sale – including resale by individuals – of NBA game tickets. Ticketmaster Chief Executive Nathan Hubbard said the service will be the first of its kind in the sports industry because it will include a feature in which Ticketmaster will validate every ticket purchased, including resales. Ticketmaster was named as the league's official ticketing provider as part of the deal, financial terms of which were not disclosed.

CEO LEAVES: ImmunoCellular Therapeutics Ltd., a small Woodland Hills developer of cancer treatments, on Monday said that Chief Executive Manish Singh had resigned, effective immediately. Founder John S. Yu, the company’s chief scientific officer and chairman of the board, will serve as interim chief executive until a replacement is found. ImmunoCellular, which licensed its drug screening technology to larger drug makers to raise money for its own drug development projects, did not provide a reason for the departure of Singh, who was a venture capitalist before helping launch the company in 2006.

NEW EXCHANGE: On Assignment Inc. on Monday said that it will transfer listing of its common stock from the Nasdaq Stock Market to the New York Stock Exchange beginning Aug. 31. The company will retain its current ticker “ASGN.” The Calabasas staffing company originally focused on health care and biotech firms but in recent years expanded into the information technology and engineering industries. Shares, which closed at $16.59 on Thursday, have gained 51 percent since the beginning of the year