Los Angeles Business Journal

Monday’s L.A. News Roundup

Tuesday, August 28, 2012

LAX TRAFFIC: The number of passengers flying through Los Angeles International Airport continued to rise in July, keeping the airport on pace for its best year since the recession. Los Angeles World Airports on Tuesday said that LAX handled 6.2 million passengers in July, up about 2 percent compared with same month a year earlier. For the first seven months of the year, passenger traffic rose 3.3 percent to 37.1 million passengers, more than in the same period in 2007, the year LAX hit a pre-recession peak of 62.4 million passengers.

ACQUISITION: A unit of Salem Communications Corp. has acquired SermonSpice.com, an online media provider for churches and ministries. The Camarillo company said that SermonSpice of Fresno will augment the WorshipHouseMedia.com and WorshipHouseKids.com sites operated by its Salem Church Products division. SermonSpice distributes worship videos and sermon materials, and has relationships with more than 2,000 Christian filmmakers. Terms of the deal were not disclosed.

IN COMPLIANCE: NetSol Technologies Inc. said that it received notice late Monday that it regained compliance for continued listing on the Nasdaq. The Calabasas information technology services provider had been given six months to bring its share prices above $1 for 10 consecutive days. The company earlier this month completed a 1-for-10 reverse split of its common stock, which on Tuesday closed up 2 percent to $4.46.