Netflix is in advanced talks to buy the historic Radford Studio Center in Los Angeles, signaling plans to turn the nearly 100-year-old lot into its next major production hub amid intensifying streaming competition.
Netflix's Studio Push
People familiar with the negotiations say Netflix is working on a deal to acquire the 55-acre Radford Studio Center in Studio City, which has long been a base for major television productions.
The property, once owned by ViacomCBS, was sold in 2021 for about 1.85 billion dollars but later fell into distress after its owners defaulted on a 1.1 billion dollar mortgage, according to the Hollywood Reporter.
Lenders led by Goldman Sachs took control of the lot and are now in talks to sell it to Netflix for an amount reported to be between 330 million and 400 million dollars, though the final price has not been set and the deal has not closed. Netflix and the current owners have declined to comment publicly on the negotiations.
A Shift From Leasing to Owning
The possible acquisition marks a shift in strategy for Netflix, which has mostly relied on long-term leases rather than owning large studio properties in its home market.
The company already operates or leases production facilities in cities such as Albuquerque, Brooklyn, London, Madrid and Toronto as it ramps up original film and series output around the world.
Owning Radford would give Netflix a permanent base with multiple stages and office buildings close to Hollywood talent and crews, potentially lowering long-term production costs and easing scheduling pressures.
Analysts say a dedicated campus in Los Angeles could also help the streamer secure space in a tight market where many rivals control their own lots.
The Historic Radford Lot
Radford Studio Center is one of Los Angeles' oldest working lots and has hosted shows including "Gunsmoke," "The Mary Tyler Moore Show," "Gilligan's Island" and "Seinfeld," making it a familiar backdrop in U.S. television history.
The campus today includes 22 soundstages, most of them audience-rated, along with three backlot streets and about 210,000 square feet of office space for writers, producers and production teams, Money Control reported.
City planning documents describe an approved framework to modernize and expand the site with up to 2.2 million square feet of soundstages, production support, offices and limited retail, as well as new parking and open space.
Local officials and business leaders have promoted the plan as a way to keep high-wage entertainment jobs in the San Fernando Valley while updating aging infrastructure.
Next Steps for Netflix
The talks over Radford come as Netflix has stepped back from pursuing much larger deals, including its recent decision to exit the race to acquire Warner Bros. Discovery. By opting for a single, historic lot at a steep discount to its last sale price, Netflix appears to be balancing expansion with financial discipline.
If the Radford deal is completed, the site is expected to become one of Netflix's central U.S. production hubs, hosting a mix of scripted series, films and live-audience shows for its global platform.
Regulators and local planning authorities would still oversee any major redevelopment or expansion as Netflix integrates the property into its production network, as per Costar.
Originally published on Realty Today
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