Losing Capitol To Capital?
Capitol Records, a division of EMI and the American home of The Beatles, Kylie Minogue and Coldplay, has reportedly received several serious proposals from interested buyers for the iconic Hollywood tower that houses the label. The rumor going around Los Angeles is that a developer is trying to buy it to convert the building into high-priced condos. What a fucking shame. Anyone who's ever visited or lived in the city doesn't soon forget the image of the structure, which looks like a stack of vinyl records. "We have a responsibility to look at anything serious," EMI spokeswoman Jeanne Murphy says of the offers. In the meantime, L.A. Mayor Antonio Villaraigosa is attempting to work with EMI to stop the sale of the building. Preservationists are trying to have the 13-story tower registered as an historical landmark.
Labels: record label drama