MGM moving to Bev Hills

Just out of bankruptcy protection, the movie company will leave the MGM Tower in Century City and lease a 144,000-square-foot Beverly Drive office building, THR is reporting. No word on when the move will take place. MGM had tried to sublet its 200,000 square feet of space at the 35-story Tower, apparently without success. Instead, it will pay landlord JMB Realty a one-time fee to break the lease (so much for the MGM signage at the top of the building). Hard to know whether any of this makes financial sense - the Beverly Drive address, which was to be occupied by William Morris until the agency was taken over by Endeavor, will not come cheap.