Atlas Capital Sues LA Times Owner for $24M Over Lease Dispute

The Backstory

Atlas Capital Group, a major LA real estate player, is suing NantMedia, the guarantor on the lease for the LA Times’ former printing facility in Downtown Los Angeles, as reported by Bisnow.

The suit claims that NantMedia defaulted on its lease and left the 648,000 SF property at 2000 E. Eighth Street in poor condition.

What’s the Dispute?

According to the complaint, the newspaper vacated the property a month later than expected and failed to restore it, leaving behind everything from “toxic ink stains” to torn floors and open leaks.

Atlas is seeking $24M in damages, which includes unpaid rent, interest on late payments, and restoration costs.

What’s at Stake

Atlas acquired the property for $240M in 2019 and announced in 2021 an ambitious $650M redevelopment plan to transform the 15-acre site into a film production campus. 

Despite planning commission approval, Atlas now claims the condition of the property could impact those plans.

A lawyer representing NantMedia and the LA Times labeled the claims “meritless” and said the parties are looking forward to resolving the matter.

Why It Matters

This legal dispute highlights the growing tension between legacy media companies and real estate developers as land values soar in urban cores.

With Downtown LA increasingly targeted for adaptive reuse and media production hubs, the outcome could have implications for redevelopment timelines and liability standards in commercial leasing.