ViacomCBS To Sell CBS Studio Center For $1.85 Billion – Deadline
From deadline.com
2021-11-30 14:13:59
jillg366
Excerpt:
ViacomCBS continues to shed non-core assets, announcing Tuesday a definitive agreement to divest the CBS Studio Center and associated businesses to the partnership of Hackman Capital Partners and Square Mile Capital Management for $1.85 billion.
The company said the transaction was the result of a widely marketed sale process, which attracted interest from a number of buyers for the Los Angeles studio lot. The property sits on a 55-gross-acre site in Studio City and consists of over 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.
“This sale is part of an ongoing optimization of ViacomCBS’ real estate and operations portfolio and will allow the company to re-deploy capital to strategic growth priorities, including streaming,” said CFO Naveen Chopra.
