Now, will you all stop gossiping about the future of EMI's LA offices? Oh, you never started. Ah well, LA types have been gossiping about reports that EMI have received offers to buy the Capitol Tower, the distinctive West Coast headquarters of EMI's Capitol Records division (some say it looks like a stack of records on a spindle - which is possibly why the rumours started - surely a 21st century record company would want their head offices to look more like an iPod?).
Anyway, EMI have denied that they are actively looking to sell the building, though have admitted there have been some offers. However, they say, if they did sell the property it would only be if a 'lease-back' deal was on the table. HitsDailyDouble have published a memo circulated around Capitol's staff which reads thus: "You may have read reports that EMI is selling the Capitol Tower. Some of these reports were not accurate. However, given the unprecedented interest in real estate in the Hollywood area, we have had several parties approach us to discuss the property and I wanted to update you on those. First, we are committed to staying at the Tower and the Gogerty building and conducting business as usual. Second, EMI is not actively shopping for a sale of Capitol Tower. However, we have received some proposals from interested buyers. We have a responsibility to review serious proposals. The only basis on which we would entertain a sale is if we could also obtain a long-term lease back-as we have done in other parts of the world-so that our operations at the Capitol Tower can continue, and of course if the economics are right."