Sony Music to Exit Old CAA Building (Exclusive)
The company is moving onto the Sony Pictures Studios lot in Culver City during the next two years.
This story first appeared in the Feb. 27 issue of The Hollywood Reporter magazine.
Sony Music is moving onto the Sony Pictures Studios lot in Culver City during the next two years, sources tell THR. Sony Entertainment CEO Michael Lynton aspires to synergize the company's properties within one complex, a la Disney's Burbank headquarters.
Currently, Sony Music is based in CAA's former home at 9830 Wilshire Blvd. in Beverly Hills. The 75,000-square-foot, three-story space, designed by I.M. Pei and featuring a wall-sized Roy Lichtenstein painting, has been the L.A. home to Sony labels Columbia, RCA and Epic Records as well as Simon Cowell's Syco since 2008, when the company signed a 10-year lease at $4 a foot plus annual operating expenses of nearly $1 million.
Bringing music to the 45-acre Sony lot would further Lynton's cost-cutting mandate. In New York, Sony Music is scheduled to move downtown from its offices at 550 Madison in January. A Sony rep declined comment other than to confirm that plans to relocate to 11 Madison Ave. were on schedule.