Is Amoeba Music, Hollywood's megalithic music mecca, going the way of Tower Records?

On Monday afternoon, it seemed to appear so. The local news site LAist reported that they'd discovered a rendering of a 20-story mixed-use tower in the lot currently occupied by Amoeba. The illustration had been posted on the website of architectural illustration firm Shimahara. Later, Hollywood councilman Mitch O'Farrell's office confirmed that the building had been sold to a new owner.

But the music retailer says it isn't going anywhere, at least for a couple of years. On Monday evening, the chain, which also has stores in Berkeley and San Francisco, assured record-buying Angelenos via social media that it isn't planning to leave its building anytime soon. 

“We're going to remain in our building for the duration of our lease — which is several years — and Amoeba and the building owner are open to us potentially staying longer,” the statement read.

LA Weekly