Netflix in Talks to Buy Radford Studio Center

Netflix is in advanced talks to acquire the historic Radford Studio Center, a 55-acre production facility in Studio City, Los Angeles, for between $330 million and $400 million, according to people familiar with the negotiations. The potential deal, which has not yet closed, would mark a significant shift for the streaming giant as it seeks to establish a permanent base in the heart of Hollywood amid ongoing industry challenges.

The Radford lot, established in 1928 by silent film pioneer Mack Sennett, has been a cornerstone of American television production for nearly a century. It served as the backdrop for iconic shows including "Gunsmoke," "Gilligan's Island," "The Mary Tyler Moore Show," "Seinfeld," and "Will & Grace." The property features 22 soundstages, most equipped for live audiences, three backlot streets, and approximately 210,000 square feet of office space. City planning approvals allow for modernization and expansion, including up to 2.2 million square feet of additional soundstages, production support areas, offices, parking, and limited retail space, aimed at preserving high-wage jobs in the San Fernando Valley.

The negotiations follow a turbulent recent history...