VIAC - ViacomCBS has $1.85 billion deal for CBS Studio Center

ViacomCBS (VIAC -1.5%, VIACA -1.2%) has a definitive deal to sell its historic CBS Studio Center production stages for $1.85 billion. As previously reported, the Los Angeles complex (known locally as CBS Radford) will go to Hackman Capital Partners and Square Mile Capital Management. The sale process attracted a number of bidders and eventually a figure that came in about $500 million more than CBS had expected going in. Hackman Capital was also a part of the 2019 CBS sale of its Television City complex, for $750 million. The CBS Studio Center complex covers 55 gross acres and more than 1 million square feet of space, including 22 stages, production office and support buildings, third-party tenant offices, a purpose-built broadcast center and filmable backlot locations. It has hosted productions dating to the silent picture era and running through TV series including Gilligan's Island, Seinfeld and Brooklyn Nine-Nine. CBS had put

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ViacomCBS has $1.85 billion deal for CBS Studio Center