{"id":599152,"date":"2026-04-22T07:23:09","date_gmt":"2026-04-22T07:23:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/599152\/"},"modified":"2026-04-22T07:23:09","modified_gmt":"2026-04-22T07:23:09","slug":"netflix-among-suitors-interested-in-buying-radford-lot","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/599152\/","title":{"rendered":"Netflix Among Suitors Interested in Buying Radford Lot"},"content":{"rendered":"

\n\tNetflix<\/a> is among the potential buyers of the Radford Studios<\/a> lot in Studio City, according to a source familiar with the talks.<\/p>\n

\n\tThe streamer\u2019s interest in the lot, which went<\/a> into foreclosure earlier this year, was first reported<\/a> on X on Sunday by Michael Trujillo, a political campaign consultant. Bloomberg confirmed<\/a> the report on Tuesday, citing three sources with knowledge of the discussions.<\/p>\n

\n\tThough the deal is not done, Netflix is believed to be a leading contender to buy the property.<\/p>\n

\n\tHackman Capital Partners bought the facility for $1.85 billion from ViacomCBS \u2014 as it was then known \u2014 in 2021. But occupancy has fallen dramatically since then while interest rates rose sharply, forcing the company default on its $1.1 billion note and ultimately to turn over the lot to Goldman Sachs, its largest lender.<\/p>\n

\n\tTrujillo cited a sale price of around $400 million, saying he had heard rumors about the sale from brokers and City Hall.<\/p>\n

\n\tHackman continues to manage the property while Goldman looks for a buyer. Both companies declined to comment. Netflix also declined to comment.<\/p>\n

\n\tThe 55-acre site was first built in 1928 and is overdue for a renovation. Hackman announced plans in 2023 to put $1 billion into the property, but those plans have been put on hold.<\/p>\n

\n\tNetflix has committed to build a $1 billion studio at Fort Monmouth, a former Army base in New Jersey. The streamer will be eligible for a 40% state subsidy for productions filmed at the studio, and has also been approved for up to $397 million in tax credits for redeveloping the 292-acre parcel.<\/p>\n

\n\tNetflix has a similar deal with New Mexico, where it bought ABQ Studios in 2018 and invested heavily to expand it. The state offers an uncapped tax incentive of 25%-35% for \u201cproduction partners,\u201d like Netflix, that make long-term commitments to production infrastructure. <\/p>\n

\n\tHackman, the world\u2019s largest independent studio owner, also owns Culver Studios, Television City, and other studios in L.A., New York, the U.K., Vancouver and New Orleans.<\/p>\n","protected":false},"excerpt":{"rendered":"Netflix is among the potential buyers of the Radford Studios lot in Studio City, according to a source…\n","protected":false},"author":2,"featured_media":599153,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[88,217,260886],"class_list":["post-599152","post","type-post","status-publish","format-standard","has-post-thumbnail","category-entertainment","tag-entertainment","tag-netflix","tag-radford-studios"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/599152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=599152"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/599152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/599153"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=599152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=599152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=599152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}