Fox Interactive Media, the News Corp subsidiary that controls most of its online assets, has signed a 12 year lease agreement for a new facility in Playa Vista. All FIM companies in Southern California will move to the new facility starting in June of 2009. For those wondering about FIM and MySpace’s future growth, this move should settle speculation. The site will house over 300,000 square feet of commercial space and is part of a development called Horizon at Playa Vista (a rendering of the development is above). The area is quickly becoming LA’s media hub, with EA, Rubin Postaer and others now with offices in the area.
The internal memo from Peter Levinsohn, President of Fox Interactive Media, is below.
About a year ago, I communicated with you about our space and parking challenges, and our ultimate plan to find a facility that could accommodate all of our LA-area team in one location. After an extensive process, I’m thrilled to inform you that we have found the ideal location for Fox Interactive Media’s new headquarters.
The new facility is located in Playa Del Rey (Horizon at Playa Vista http://www.horizonatplayavista.com/) and houses more than 300,000 square feet of commercial space. Playa Del Rey is the first newly-built community in Los Angeles in over 50 years and has become a creative hub for technology companies, including EA, the largest video game company in the world. The site itself should be amazing – including an exclusive gym, internal and external eating facilities, volleyball courts, and lots of green space for outdoor activities. Just beyond the newly-built facility will be a host of restaurants, shopping locations and living options.
FIM has experienced phenomenal success in its three-year history, and we have plans for even greater growth and achievements in the coming fiscal year. Given our tremendous track record, it’s only fitting that we should enter into the single biggest real-estate transaction in Los Angeles in the last 25 years. When we move to our new facility between June of 2009 and January of 2010, not only will we enjoy the distinction of having one of the largest corporate headquarters in the LA area, but we will be housed in a state-of-the-art facility that reflects our corporate identity and culture.
In the coming weeks and months, we’ll be providing you with more information about the site and the surrounding area. We’ll also provide a schedule for the phased move, as soon as those details have been decided.
I have appreciated your patience during the past year, as we’ve shifted groups to new locations to manage our growth and endured numerous space constraints and challenges. Soon, we will have an opportunity to collaborate more effectively, as well as to create a work environment that speaks to the creativity and innovation that has come to be synonymous with Fox Interactive Media.
I hope you are as enthusiastic as I am about this exciting milestone for our company.
Peter Levinsohn
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Why does this matter?
Nice blog.
Congratulations!!
That does not bode well for Fox’s “interactive employees”. Once they herd them all into a single facility, Unca Rupert can just light a match and then… OOOPS! A major downsizing without all that expensive paperwork.
Can you say TRAFFIC?
I wonder how much time this is going to add to their commutes.
Trafficwise, this is potentially better for most Fox employees. Their previous main office was in Beverly Hills, accessible only via street traffic. Playa is closer to the airport, 405 and Santa Monica. It’s exciting to have a Microsoft/Google-like campus in Los Angeles. Nice job Fox. EA-Fox, hmmm, that’s an interesting match.
I wish I could work there. That looks awesome.
“It’s exciting to have a Microsoft/Google-like campus in Los Angeles. ”
What difference does it make though unless you work there. It’s like driving in front of Vivid Entertainment. You wish you could go inside every day but you don’t work there.
Hopefully this new big building helps them meet some deadlines….
I live across the street from the construction. EA is about a mile down Jefferson. I was hoping my employer would find space in the complex, that would be awesome.
impressive…though…it will not help your bottom line….except if you want to morph into a REIT…. it’s not in the best interest of shareholders….but i’ll take the first free fox interactive bottle of water as long as the fox logo is on it…
@1/ @2. I live in LA so maybe it only matters to me - but MySpace doing the largest commercial real estate deal in Los Angeles in 25 years to build their new headquarters feels like news.
Why are they spending 350+ Million to least a location? Can’t they just build one themselves? I thought they were making lots more money than FB?
Looks like a SuperMax prison.
Yeah, the commute for many will be a nightmare. To get to the location one has to travel one of the busiest stretches of freeways in the nation. Even the surface streets in the area are starting to get clogged up now, just imagine when they move in.
The sad thing about this area is that 10 years ago it used to be one of the last wetlands of southern california. The greedy city council couldn’t give a crap about many people opposed to this new development called playa vista. Environmental impact studies showed a scary increase in traffic and the land sits atop of gas deposits but it’s hard to stop greedy developers.
Does this mean they’re not planning any more acquisitions for the time being, or have they earmarked some empty floorspace for bolt-ons?
This post has changed dramatically since I last refreshed it, what happened?
FML nevermind