Hudson Capital LLC Acquires Hollywood's Tribune Studios and Real Estate for $125...
* Reuters is not responsible for the content in this press release.
Hudson Capital LLC Acquires Hollywood's Tribune Studios and Real Estate for $125 Million Studio Will Continue as Home of KTLA-TV Through 2012 HOLLYWOOD, Calif.--(Business Wire)--Hudson Capital, LLC, announced today it has acquired Hollywood's Tribune Studios from the Tribune Company for a reported $125 million, it was announced today by Hudson's managing partners, Howard Stern and Victor Coleman. Deal also provides a new five-year lease allowing KTLA-TV to continue operating at the location through 2012. Hudson Capital's recent purchase of Tribune Studio's 13.25 acres, 11 studio-equipped sound stages, and more than 215,000 square feet of executive and support staff offices, combined with its recent acquisition of the legendary Sunset Gower Studios' (five months ago) 15.6 acre, 12 sound stages and newly refurbished executive and back offices with more than 350,000 square feet, makes Hudson the largest land owner in Hollywood, and the largest independent production studio in California. The popular reality TV series Divorce Court, Judge Judy, Judge Joe Brown are currently being produced at Tribune Studios. Other recent productions include Disney's Hannah Montana, Phenomenon and The Biggest Loser. "Our other property, Sunset Gower Studios," said Stern, "has been home for two of television's most popular dramatic series, NBC's Heroes, and Showtime's Dexter. Sunset Gower has also been the recent production lot for such feature films as Garry Marshall's Georgia Rules starring Jane Fonda and Lindsay Lohan, The Good Shepard, The Good German, and Alvin and the Chipmunks, among others," he concluded. Sunset Gower recently celebrated the opening of its new state-of-the-art Stanley Kramer theater outfitted with the latest in technical equipment, production and sound apparatus, and 71 ergonomically designed seats, according to studio VP, sales and marketing director, Terri Melkonian. The Studio is also in the final stage of its multi-million dollar construction of Technicolor's new eye-catching 96,000 sq ft building to be home to its 21st Century post-production facilities. "Sunset Gower Studios is committed to offering a vibrant, contemporary studio environment that will once again be the home studio of Hollywood's dynamic creative community, independent producers, and production companies. We have upgraded all of our production and post-production facilities, and completely refurbished executive and staff offices and on-site enhanced parking to ensure the convenience of our filmmakers," said Stern. We plan to fully enhance and upgrade our new Tribune Studios. In addition, Hudson Capital plans to develop a 300,000 + sq ft office building at the Tribune Lot as well as beginning plans for additional office construction at Sunset Gower Studios, stated Mr. Stern. "The world is experiencing a dynamic expansion in its ability to communicate to the vast markets of the global community. This is, in no small part, due to the coming of the digital age and endless distribution power and reach of the Internet. We have just scratched the surface of the world wide appetite for content and who, better than Hollywood, and its wealth of production and creative talents to compete better than any other country in the world. Our ownership of Sunset Gower and Tribune Studios demonstrates our fervent belief in Hollywood and in creating a producer-friendly, creative production environment to help ensure Hollywood once again blossoms as the film capital of the world," concluded Stern. Hanson & Schwam Public Relations Gene Schwam, 310-248-4475 firstname.lastname@example.org Copyright Business Wire 2008
- White House reverses, says Obama met uncle and lived with him during law school
- South Africans, some fearful, wake to life without Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- Ford leans on global Mustang to burnish overseas image
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image