Netflix is in talks to acquire the Radford Studio Center in Los Angeles, a production complex established in 1928. The move comes as the company's lease at Sunset Bronson Studios expires at the end of the year.
The deal has not yet been finalized, and neither Netflix nor the current owners responded to requests for comment, according to the Los Angeles Times.
The complex, nicknamed "Hit City" after World War II, is a piece of American history. Series filmed there include Gunsmoke, Seinfeld, Leave It to Beaver, Gilligan's Island, The Mary Tyler Moore Show, The Bob Newhart Show and Will & Grace.
Charlie Chaplin and Buster Keaton also used it over the years. The complex covers about 223,000 square meters (2.4 million square feet), roughly the size of 30 soccer fields.
Ownership of the property has been turbulent in recent years. Hackman Capital Partners and Square Mile Capital Management bought it in 2021 for $1.85 billion, but in January, amid declining occupancy and rising interest rates, Hackman stopped making payments on a $1.1 billion mortgage, and the lenders, led by Goldman Sachs, took control of the asset.
Hackman continues to operate the studios in practice, while Goldman Sachs searches for a buyer. The potential sale price is now estimated at just $330 million to $400 million, a steep drop from its previous valuation.
A purchase by Netflix could directly affect productions currently operating at the site. The lot where Big Brother is filmed is included among the assets being offered for sale, and CBS may have to renegotiate its terms of use or find an alternative.
