Key facts
- Netflix is set to acquire Radford Studio Center.
- Radford Studio Center is a historic Los Angeles movie studio.
- The acquisition price is significantly less than the studio's 2021 sale price.
- Lenders repossessed the property from its previous owner.
- The deal signifies Netflix's expansion in Hollywood.
Netflix is poised to purchase the Radford Studio Center, a historic film and television production facility located in Los Angeles. The acquisition is set to occur at a price significantly below what the property commanded in 2021. This reduced valuation follows the repossession of the studio by its lenders, indicating financial distress for the previous owner. The deal represents a strategic expansion for Netflix, which aims to bolster its production capabilities and solidify its presence within the heart of Hollywood. The Radford Studio Center has a long history in the entertainment industry, having served as a production site for numerous well-known films and television shows.