Los Angeles Business Journal


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Saban ‘Blank Check’ Offering Seeks $235M

Media mogul Haim Saban has priced an initial public offering for his Saban Capital Acquisition Corp., seeking to raise $235 million for the “blank check” company that would acquire an as-yet unidentified media business.

Emmis’ Texas Monthly Nearing a Sale, Confirms Smulyan

Emmis Communications Corp., parent of Los Angeles Magazine, is about to close a sale of one of its other crown jewels: Texas Monthly.

Movers for Week Ending September 16, 2016

Glendale-based healthcare company Apollo Medical Holdings was this week’s biggest mover, gaining 22 percent to end at $5.00. Xencor Inc. of Monrovia was also among the week’s movers. The antibody drug company gained 20 percent to end at $24.63. Los Angeles-based niche-focused online brand company Spark Networks Inc. was this week’s biggest loser, dropping 8.62 percent to end at $1.59.

L.A. Unemployment Rate Ticks Up to 4.9 Percent in August

L.A. County’s unemployment rate inched up to 4.9 percent in August even as employer payrolls grew, state figures released Friday showed.

Silicon Beach Report Sept. 16: Newegg Receives Investment from Hangzhao Interactive

Newegg receives investment from Hangzhao Interactive, Ted Cruz fights ICANN’s transfer, Demand Media acquires The Other Art Fair for $1.5 million, and more.

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Unilever Reportedly Looking to Buy Playa Vista’s Honest Co.

Unilever is reportedly in talks to purchase Honest Co., the consumer-products retailer co-founded by actress Jessica Alba. The deal, according to the Wall Street Journal, values the privately held Santa Monica firm at $1 billion, significantly below the $1.7 billion the company was priced at last year when it raised some $200 million from outside investors.

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Port of LA Cargo High in August; Long Beach Cargo Numbers Drop

The Port of Los Angeles had its second-busiest month in its 109-year history in August, while neighboring Port of Long Beach saw overall cargo numbers decline year-over-year for the month.

Silicon Beach Report Sept. 15: Tesla Motors to Build 20MW Battery Storage Facility for SoCal Edison

Tesla Motors to build 20MW battery storage facility for SoCal Edison, Citi Ventures backs FastPay, first Hyperloop One likely to be built overseas, and more.

USC School of Social Work Gets $60 Million Donation and a New Name

University of Southern California alumni Suzanne Dworak-Peck donated $60 million to the private university’s school of social work on Wednesday, one of the largest contributions in history to a school of its kind. With Dworak-Peck’s hefty gift came a change to the school’s name, which has now been dubbed the USC Suzanne Dworak-Peck School of Social Work.

Tesla Motors to Build 20MW Battery Storage Facility for SoCal Edison

Southern California Edison has selected Tesla Motors Inc. to build a 20-megawatt battery storage facility in Mira Loma for an undisclosed amount.

Silicon Beach Report Sept. 14: Comparably Hires eHarmony’s President Armen Avedissian

Comparably hires eHarmony’s president Armen Avedissian, LeEco buys production studio Dichotomy Creative Group, and Snapchat increases ad targeting.

Comparably Hires eHarmony’s President Armen Avedissian

Comparably of Santa Monica announced it has hired eHarmony’s former President Armen Avedissian as it as its chief marketing officer.

L.A. Promises Free Year of Community College Tuition for LAUSD Graduates

L.A. city officials launched a program Wednesday to guarantee all high school graduates within the Los Angeles Unified School District at least one free year of tuition-free community college education.

Silicon Beach Report Sept. 13: Defy Media Raises $70M

JibJab launches sticker and animation apps, Defy Media raises $70 million, and SpaceX plans to launch again in November.

SoCal Gas CEO to be Replaced; Utility Agrees to Pay $4M in Penalties for Leak

Just hours after agreeing to pay $4 million in penalties for the massive Aliso Canyon gas leak, SoCal Gas’ parent company announced the utility’s chief executive is being replaced as part of a major corporate shakeup.

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Rams to Cover Cost of Police, City Services for Home Games

The Los Angeles Rams reached an agreement with Los Angeles city officials to pay for the cost of police and other city services for home games, Mayor Eric Garcetti announced Tuesday.

L.A. Employers to Increase Hiring in Third Quarter

More LA employers say they plan to add workers during the fourth quarter, but more also plan to reduce payrolls in the third quarter, according to a survey to be released Tuesday from Manpower Inc.

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Hanjin Ships Finally Dock at Port of Long Beach

Two Hanjin Shipping Co. vessels that had been waiting for more than a week to unload their cargo at the Port of Long Beach after the company filed for bankruptcy have finally been allowed to dock.

Silicon Beach Report Sept. 12: OSI Systems Completes $269 Million Acquisition of American Science and Engineering

OSI Systems completes $269 million acquisition of American Science and Engineering, Lionsgate and Univision team up for Spanish-language streaming service, artificial intelligence startup Oben raises $10 million, and more

OSI Systems Completes $269 Million Acquisition of American Science and Engineering

X-ray system manufacturer OSI Systems on Monday completed its acquisition of American Science and Engineering Inc. for $37 a share, a cash deal worth $269 million.