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.