Alas, it was not enough. Dutton's will close anyway at the end of April. Munger "said in a statement that he would allow Dutton's to use the space rent-free during the liquidation and that he would cover the $550,000 debt in exchange for the store's closing." So he gets the ground floor retail and can make some good money, but hey, it is still generous if you ask me.
The story at least did say that there are still many good independent bookstores in the LA area, including Book Soup on the Sunset Strip and Vroman's in Pasadena (two of my favorite haunts when I lived there). But each indie store closing is still sad.