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- ViacomCBS Inc (NASDAQ:VIAC) is nearing a sale of its historic CBS Studio Center lot in Los Angeles dubbed the “Radford Lot,” the home of popular TV shows, New York Post reports.
- Final bids are in for the massive collection of soundstages with Hackman Capital Partners as a leading contender.
- Earlier this year, Hackman scooped up Sony Pictures Entertainment’s 182,000 square-foot animation campus in Culver City for around $160 million.
- CBS put its 38-acre campus for sale at auction in late August, as the network sells off non-core assets to invest more heavily in creating shows and movies for burgeoning streaming platforms.
- The sale will likely be quick as the pandemic is driving demand for shows and movies, leading to a crisis of production studio space in Los Angeles.
- ViacomCBS sold CBS’ original Midtown Manhattan corporate headquarters, called “Black Rock,” to real estate investment firm Harbor Group International for $760 million in mid-August.
- Price Action: VIAC shares closed lower by 1.41% at $37.08 on Tuesday.
MEMORIAL DAY FLASH SALE: 50% OFF BENZINGA PRO
As we honor our freedom, take a stand today. Secure the financial freedom that both you and your family deserve. Get exclusive market moving news for just 50% off. Claim your 50% discount here.
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