After 83 years of being located in Downtown Los Angeles, the Los Angeles Times Newspaper is set to move to El Segundo, the border of Silicon Beach. The new campus will be located at 2300 E. Imperial Highway in El Segundo, across the street from ATT DIRECTV building and conveniently next to the 105 FWY. (source)
The news of the impending change was released by Dr. Patrick Soon-Shiong, the new owner of the LA Times. This update was made during the first town hall meeting with the LA Times staff, whose members were noticeably stunned upon hearing the news. Some of them felt that the move was like leaving home, as they have worked in the same historic building for decades. Others were concerned about longer commutes to the new headquarters, although some of the plans involve retaining downtown offices for those who may be needed in the area.
Why the Move?
The previous owners of the LA Times had sold the historic building to the Canadian developer Onni Group. The newspaper had been based here since 1935, but their lease expires on June 30.
The move was precipitated by Onni Group’s rent increase demand of an extra $1 million a month, according to Soon-Shiong. The new owners decided that the extra $12 million annual expenses would be better spent on creating a more modern workplace instead. The new campus on El Segundo would serve as a home where they can stay for another century, instead of staying in a building which they have to lease.
The money that would have been spent on the lease will also be used in other ways to benefit the newspaper. More journalists will be hired. The technology in the newsroom will be greatly enhanced. The new home of the Times will be more contemporary, with modern amenities and free parking.
The New Campus
The LA Time’s new home is on a property measuring about 4.5 acres and will include an 8-floor building offering 120,000 square feet of space. The first floor of the building will also accommodate the museum gallery featuring the long 136-year history of the publication. The first floor will also contain space for retail stores and events.
Construction of the new campus is currently ongoing at a frenetic pace in order to meet the looming deadline. According to Soon-Shiong, the work is 24/7 constant and it includes work during the night.
The design of the space will be decided by a team led by Soon-Shiong’s wife Michele. A couple of local architecture firms, CO Architects and Tichenor & Thorp, have been hired to do the buildout.
Soon-Shiong bought the publication for half a billion dollars, and the final steps of the process had just concluded at the end of April 2018. After 18 years of ownership by residents of Chicago, the LA Times will once again be owned by local LA residents.