Netflix Radford Studio Center Deal Said to Be on Track
Netflix's purchase of Radford Studio Center is reportedly moving on schedule, but the deal has not closed and no SEC filings have been made.
Netflix is proceeding with its purchase of the 55-acre Radford Studio Center in Studio City, with a deal valued at more than $400 million, according to Deadline. A source close to the deal says the acquisition is progressing on the agreed timetable and milestone dates.
The transaction has not yet closed. Hudson Pacific CEO Victor Coleman said on a November 5 earnings call that Netflix had not closed the Radford transaction. Netflix did not respond to Deadline's request for comment on the status of the acquisition.
No required filings with the SEC or L.A. County have been made by Netflix for Radford, and a Los Angeles real estate insider said Netflix has not yet signed the final agreement.
What Radford Includes
Radford Studio Center has 22 stages, 210,000 square feet of office space and 172,737 square feet of support space. It was a CBS hub for decades and was once called Republic Studios; Seinfeld, Gunsmoke and The Mary Tyler Moore Show were shot there.
Earlier this year, Netflix lost out to David Ellison for the Warner Bros. lot in Burbank. Late this summer, Netflix was granted more time to inspect Radford's facilities, and it began talks with Goldman Sachs about Radford in April. Hackman Capital Partners bought Radford from ViacomCBS in 2021 for $1.85 billion, then defaulted on a $1.1 billion loan early this year, after which a Goldman Sachs-led group took over Radford.
Quick answers
Has Netflix closed the Radford Studio Center deal?
No. Hudson Pacific CEO Victor Coleman said on a November 5 earnings call that Netflix had not closed the transaction, and a Los Angeles real estate insider said Netflix has not yet signed the final agreement.
How much is Netflix paying for Radford Studio Center?
The deal is valued at more than $400 million, according to Deadline.
What facilities does Radford Studio Center have?
Radford has 22 stages, 210,000 square feet of office space and 172,737 square feet of support space.