Aerial photo of CBS Television City in Hollywood, CA. Photo: Monty Brinton/CBS ©2016 CBS Broadcasting, Inc.
LOS ANGELES—Locally-based Hackman Capital Partners has reached an agreement with CBS Corp. to acquire the broadcast network's iconic 25-acre CBS Television City and sound stage property here for $750 million.
As part of the transaction that is expected to close in early 2019, CBS programs, such as “The Late Late Show With James Corden,” “The Price Is Right,” “The Young and the Restless” and “The Bold and The Beautiful,” will continue to be produced at the property for the next five years. CBS will also retain office space for CBS Studios International's US headquarters and other company departments currently housed on the Television City site.
Hackman Capital, which broke ground on Monday on its expansion at its Culver Studios in Culver City, CA, will also have the rights to use the Television City trademark in connection with its operations on the property.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
