Yahoo, AOL move to H'wood
Physical media may be on its way out, but even virtual media companies need a home address.And with ties between Hollywood and dot-com giants firming up by the day, Netcos are increasingly looking for an L.A. address. Last year, Yahoo signed a 10-year lease for a 230,000-square-foot space in Beverly Hills to house all its content operations. And America Online has just signed a 10-year lease for an 83,000-square-foot space in Beverly Hills it will start moving into later this year. Time Warner-owned AOL is moving just some of its media staffers to L.A., keeping the bulk of its operations in Gotham and Virginia. Moves make sense, as AOL just closed a deal to produce a massive online reality show with producer Mark Burnett. Yahoo has several large-scale programs in development. Both Netcos need to recruit and take meetings with Hollywood talent, as well as find room for the oldest of media needs: studio space to shoot their shows.