http://www.laobserved.com/archive/2006/ ... arket.html
Hollywood's iconic Capitol Records building has been put up for sale by parent company EMI Group. The potential of converting the circular, Welton Becket Associates-designed tower on Vine Street into condos has helped attract several offers.

But Andy Fixmer reports in the L.A. Business Journal that Mayor Villaraigosa and other city officials are scrambling to keep Capitol's 160 employees in Hollywood, perhaps by making improvements that will entice a new owner to let Capitol Records stay on a lease. A source tells the LABJ that “EMI has decided that they are in the record business; not the real estate business...[they] can get a lot of money for the property, so that is what they’re going to do.”

Just six years ago the city came up with $4 million to help renovate the 1950s building that is shaped like a stack of records and head off Capitol's threatened departure. Now EMI is said to be upset that so many buildings around the tower are going residential. Josh Kamensky, the spokesman for Council president Eric Garcetti, says in the story that EMI has been told that Capitol Records doesn't qualify for adaptive reuse.

[img][283:500]http://history.acusd.edu/gen/recording/images5/capitol2.jpg[/img]

Everybody knows it is stacked like cds, not records.

(man, that was lame)

Hey I know that building! That's the one from this movie:

those damn people at EMI!

to be honest, i haven't heard anything about this around here... and frankly, i don't know where all the capitol people would go. they sure as hell wouldn't move over to gogerty (the argyle building) next to capitol because there isn't enough room over there. and the emi offices i work at are small as well...

interesting.

I expect you to investigate and keep us informed!

i drive by the tower every single day. it's a hollywood landmark. when dana (dnorwood) was in town, i had to be cheesy and drive her past the building so she could see it. i will be REALLY upset if EMI does tear down the building... however capitol is owned by EMI so at the same time i wouldn't be surprised.

goddamnit.

I always liked that building. I bet its a real piece of shit inside now, but oh the stories those walls good tell.

How many lives ruined by signing terrible contracts?

apparently news travels fast.

rumors, interested buyers, however not actively looking to sell. or so they say.

And I totally asked her to drive by the building too. Can't go to LA and not see the Capitol Records building.

And Aural drove me by the Scientology Center. I feel like my LA experience is complete.

i actually was planning to exit gower instead of cahuenga so you could see the building then you asked me. one step ahead of ya! next time, if we both have free time in the day, i have to take you to see the view of la from the getty and up to griffith park to see the hollywood sign.

I did the Getty in January.

Amazing views....

Teddible, Teddible.

I thought them aliens done blew that place up on July the 4th?