CBS sells Television City for $750 million to Los Angeles real estate developer [Los Angeles Times (CA)]
CBS (CBS)
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Source: Los Angeles Times
CBS sells Television City for $750 million to Los Angeles real estate developer For CBS Corp., the price was right. The network said Monday that it has sold its iconic Television City headquarters, and active sound stages, near Farmers Market and The Grove for $750 million to Los Angeles-based real estate developer Hackman Capital Partners. The sale, which was expected , will give the buyer the right to use the Television City name in connection with marketing the property. But shows that are produced at Television City, including CBS’ “The Late Late Show with James Corden,” “The Price is Right,” and “The Young and the Restless,” will continue to be based there. CBS, in an announcement, also said it would retain office space because its studios’ headquarters for its international operations are on the site. “The sale of Television City unlocks significant value, increasing CBS’ financial flexibility, including the ability to redeploy capital for strategic growth initiatives such as ad
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