Television City Studio Owner Bets $1 Billion on L.A. Production Comeback
variety.comGene Maddaus Senior Media Writer The entertainment industry in L.A. has endured a tough couple of years, with the strikes, layoffs and the production slowdown leading to headlines like “Hollywood Is Ditching Hollywood.” Despite the gloom, studio facilities are pushing ahead with expansion plans.
Construction is underway on a $500 million build at Warner Bros. Ranch, and Comcast is pouring $1 billion into Universal City.
Television City is poised to expand as well: The L.A. City Council is expected to give final approval to a $1 billion makeover on Jan.
7. The project has been in the works for years. Hackman Capital Partners bought the Fairfax District lot from CBS in 2018, and submitted its application to the city in 2021 — when production was a lot healthier.
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