Netflix’s Possible Radford Studios Purchase Has Stalled

Netflix’s proposed purchase of Radford Studio Center has stalled, according to Hudson Pacific Properties CEO Victor Coleman.

The lot is in Los Angeles, where Netflix already leases more than 700,000 square feet of office and production space from Hudson Pacific.

Netflix is weighing how much studio space it needs in Los Angeles before deciding whether to proceed.

Radford, formerly CBS Studio Center, was bought by Hackman Capital Partners for $1.85 billion in 2021, and the company later pledged $1 billion for renovations.

Hackman’s refinancing talks with lenders failed, and reports said Netflix was interested in buying the lot after its previous owners allegedly defaulted on a $1.1 billion mortgage.

The possible sale matters because it could change who owns a major Hollywood studio lot, where shows including “Seinfeld” and “Gilligan’s Island” were filmed.

Coleman hopes for some resolution by year end, while discussions continue about Netflix extending its existing lease beyond 2031.