Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

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Northrop Aims to Land Big One

Aerospace: Winning bid for spacecraft could lift entire sector.

A winning bid by Northrop Grumman to develop a space plane could help the local industry take wing.

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Data Analyzer Looks to Grow Its Client Numbers

Marketing: Retail sites no longer sole focus of business for Retention Science.

Retention Science looks to get a hold on new sectors for its customer-evaluation data services.

AssetAvenue Secures $3 Million Seed Money

AssetAvenue, an online commercial real estate lending platform, has raised $3 million in seed funding.

Daily News Could Be Sold

The Los Angeles Daily News is among the newspapers that could be sold as parent company Digital First Media said Friday it was reviewing strategic alternatives for its business.

DTS Acquires Manzanita Systems

Audio technology company DTS Inc. is acquiring Manzanita Systems, a Poway software developer for digital television, video-on-demand and other platforms.

Conversant, Rubicon Among Week’s Big Movers

The Los Angeles Business Journal’s index of the area’s largest public companies fell for the week.

Ex-Banker Austin Beutner Turns Page as Times Chief

Austin Beutner is an accomplished guy, what with being a co-founder of a successful investment bank and deputy mayor in Los Angeles. But since he has no experience in the news business, why did he take the top job at the Los Angeles Times?

Carwash Buyer Arrested for Money-Laundering

A downtown L.A. investor who recently purchased a prominent South Park development site was among those arrested last week when federal agents raided the Fashion District in connection with an alleged money-laundering scheme for international drug cartels.

Northrop Aims to Land Big One

The Defense Advanced Research Projects Agency wants to build an unmanned plane that can fly into space and land back on Earth, and Northrop Grumman Corp. and its partners are trying to figure out how to do it.

Stocks Fall

The Dow Jones industrial average fell 61 points in Friday trading to close at 16,988. The S&P 500 fell 12 points to close at 1,986. The Nasdaq fell 24 points to close at 4,568. The LABJ Stock Index was flat at 206.

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L.A. Launch List: Sept. 12

The Los Angeles Business Journal brings you a weekly roundup of L.A. launches.

Conversant Acquired for $2.3 Billion

The ad tech firm Conversant Inc. has agreed to be acquired for $2.3 billion in cash and stock. The Westlake Village company formerly known as ValueClick is to be bought by Alliance Data Systems Corp., a data marketing service provider in Plano, Texas.

Deluxe Buys Cloud Service Mediapeers

Deluxe Entertainment Services Group Inc. has acquired German business-to-business cloud service provider Mediapeers for an undisclosed amount.

Foreclosures and Home Sales Fall

Even as foreclosures fell to more normal levels, home sales in Southern California slipped to a four-year low in August as would-be buyers faced inventory and affordability challenges, according to separate reports released Thursday.

Tetra Tech Wins $23.6 Million U.S. Navy Contract

Pasadena’s Tetra Tech Inc. announced Thursday that is has been awarded a five-year, $23.6 million contract with the U.S. Navy. Tetra Tech will conduct field surveys and data analysis in order to predict the environmental consequences of an expansion of the training grounds at the Marine Corps Air Ground Combat Center in Twentynine Palms.

Poll: Do you believe Austin Beutner, a former venture capitalist and deputy mayor, can revive the Los Angeles Times?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition.

Stocks Mixed

The Dow Jones industrial average fell 20 points in Thursday trading to close at 17,049. The S&P 500 rose two points to close at 1,997. The Nasdaq rose five points to close at 4,592. The LABJ Stock Index was flat at 206.

CU Wallet Gets Investment

CU Wallet, a mobile payments tech provider, has received an investment from one of the largest credit unions in the country, Security Service Federal Credit Union in San Antonio.

Ticketmaster Acquires Eventjoy

Ticketmaster, a division of Live Nation Entertainment, has acquired mobile ticketing platform Eventjoy.

Activision’s Destiny Makes $500 Million in First Day

The online science fiction shooter game Destiny made more than $500 million in sales on Tuesday, the first day it was released, according to Santa Monica videogame publisher Activision Blizzard Inc., which published the game in conjunction with Bungie Inc., the studio that created the Halo game for Xbox.