Fox Interactive Media (NYSE: NWS) is celebrating its third birthday* by finally announcing a new headquarters that should be big enough to house all of its LA staff in one place: 300,000-plus square feet in the Horizon at Playa Vista in Playa Del Rey. In an internal memo to his staff, FIM president Peter Levinsohn described the deal “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.” The space includes “an exclusive gym, internal and external eating facilities, volleyball courts, and lots of green space …” It will house about 2000 FIM employees, which is all its LA staff.
New neighbors in the development between Santa Monica and LAX include Electronic Arts (NSDQ: ERTS). If you so desire, you can watch the progress of this still-under-construction building on this live webcam.
* News Corp unveiled FIM July 15, 2005.
Updated: LAT: The price of the lease was not disclosed, but real estate experts who know about the deal but asked not to be identified because negotiations were confidential valued it at about $350 million over 12 years.
The internal memo from Levinsohn, announcing the move:
“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