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Netflix extends review period for proposed Radford Studio Center purchase
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Netflix has extended the initial 90-day review period for its proposed purchase of Radford Studio Center, leaving open whether it will acquire the Los Angeles production campus. The delay reflects the scale of the decision as filming in the region remains near historic lows and studios weigh the cost of owning production space.
The transaction is estimated at $330 million to $400 million, and higher borrowing rates may make financing more expensive. Netflix is also reviewing its commitments to Hudson Pacific, which owns Radford: it has ended some soundstage obligations and leases more than 700,000 square feet of office space, with those leases due to expire in 2031. Hudson Pacific says Radford would not replace Netflix’s office footprint, and sources expect the purchase to proceed.
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In short
- Netflix has extended its review of the Radford Studio Center purchase.
- The proposed deal is valued at $330 million to $400 million.
- The decision comes as Netflix reassesses its Los Angeles space needs.
How this story developed
- 21 hours ago The purchase remains under consideration, with a source saying the extended review does not mean it will collapse and property figures expecting it to close; Hudson Pacific’s exposure includes Netflix’s studio commitments and more than 700,000 square feet of office space leased until 2031.
- 21 hours ago Netflix extended the original 90-day review period for its proposed £330 million to £400 million purchase of Radford Studio Center, as it weighed its Los Angeles space needs amid low local filming levels and higher borrowing costs.
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The case for
Proceeding with the purchase could give Netflix greater long-term control over soundstages and production space in Los Angeles, supporting its ability to plan filming and manage a substantial local footprint. The deal may also provide Hudson Pacific with a sale and help steady confidence in a Hollywood property market facing weak filming levels and costly borrowing.
The case against
Pausing or reconsidering the purchase could be prudent while filming demand is subdued and higher borrowing costs make a $330 million to $400 million commitment more expensive. Netflix already leases substantial space through 2031, so it may be able to meet its needs without taking on ownership costs and long-term property risk.
Explained simply
Radford Studio Center is a major film and television production site in Los Angeles, with sound stages used to make shows and films. It is owned by Hudson Pacific Properties, a company that also rents office space to Netflix.
Netflix has been weighing whether to buy the site, in a deal estimated at $330 million to $400 million. Owning a studio could give the company more control over production space, while borrowing costs and the amount of filming in Los Angeles may affect the decision.
The issue matters to both companies as Netflix reviews how much space it needs in the region. Its soundstage arrangements with Hudson Pacific have changed, while its separate office leases are due to run until 2031; Hudson Pacific says the proposed purchase would not replace that office space.
Coverage · 2 sources
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Originally published by The Hollywood Reporter as “Netflix’s Bid to Buy Radford Studio Lot Stalls”.