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  1. #1

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    EMI sells Hollywood landmark Capitol Records Tower

    EMI selling landmark Capitol Records Tower

    By Chris Morris
    The Hollywood Reporter
    September 29, 2006

    EMI Music North America has signed an agreement to sell the historic Capitol Records Tower in Hollywood to New York commercial property firm Argent Ventures, but Capitol will remain housed in the building under a long-term lease. EMI said the sale of the 50-year-old Vine Street landmark was part of its strategy to divest non-core real estate assets.

    Some properties are subject to lease-back agreements; earlier this year, EMI sold and leased two facilities in Japan. EMI Music North America chairman/CEO David Munns said: "This is part of the restructuring effort we announced in April, and will help to ensure our organization remains flexible, with a focus on investment in the key areas of A&R, marketing and the development of our digital business. We are happy to carry on the heritage and tradition of making and marketing great music in this building."
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

  2. #2

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    Re: EMI sells Hollywood landmark Capitol Records Tower

    As long as Capitol is still headquartered there, as long as the building isn't changed drastically, then it's all good. That's a classic and very historical building and should never be changed.

  3. #3

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    Re: EMI sells Hollywood landmark Capitol Records Tower

    Here's a bit of Tinseltown Trivia for you. The red aircraft warning light atop the spire on the Capitol Building blinks out the letters H-O-L-L-Y-W-O-O-D in Morse Code.
    "Yesterday, a man walked up to me and said, 'Isn't it a shame that Walt Disney couldn't be here to see this?' and I said, "He did see this, that's why it's here."
    -Art Linkletter July 17, 2005-

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  4. #4

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    Re: EMI sells Hollywood landmark Capitol Records Tower

    is the building a designated historic landmark? if so they can't change the outside features of the building.

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