Television City at Beverly Boulevard and Fairfax Avenue is expected to hit the market.
It sits behind the Original Farmers Market in Los Angeles’ Fairfax neighborhood and has served as a stage for some of Hollywood’s biggest productions, such as “American Idol,” “The Carol Burnett Show” and “The Price Is Right.”
CBS sold the studio back in 2019 to private real-estate firm Hackman Capital. That firm is reportedly battling a bill of debt in the millions.
A spokesperson for Hackman Capital sent the following statement to NBC Los Angeles on Saturday:
“As an owner of studio assets in multiple U.S. and international markets, we have seen firsthand how Los Angeles studio real estate faces significant pressure from high production costs and uncompetitive tax incentives. Television City is a local treasure, home to decades of iconic productions, and we remain in active discussions with our lending partners as we carefully evaluate all alternatives available for its future.”
NBCLA also reached out to Los Angeles Mayor Karen Bass’ office, which said the mayor will “continue to fight for tax credits, incentives and less red tape at the federal, state and local level to bring more productions back to LA.”