From TheWrap · Jacob Bryant · · 50s
Netflix's Lot Deal Stalls
Netflix's acquisition of Radford Studios lot stalls after talks with Hudson Pacific.
In brief
Netflix's acquisition of Radford Studios lot stalls after talks with Hudson Pacific. Netflix's plan to buy Radford Studios lot stalls as Hudson Pacific says transaction not closed until later this year. Originally reported by TheWrap.
Hudson Pacific CEO says deal stalled
Hudson Pacific CEO Victor Coleman states Netflix has not closed the acquisition of Radford Studios lot and may not decide until later this year.
“Netflix has not closed that transaction, and they are not deciding to close it until sometime, maybe, later in the year, or not”
Netflix weighs studio space needs
Netflix reportedly assesses how much studio space they need in Los Angeles going forward after previous owners defaulted on a $1.1 billion mortgage.
Radford Studios lot history
Radford Studio Center was bought by Hackman Capital Partners for $1.85 billion in 2021 and was to be renovated with $1 billion investment in 2023.
What matters most
Netflix's plan to buy Radford Studios lot stalls as Hudson Pacific says transaction not closed until later this year.
