CBS putting Television City up for sale?

[mvcg66b3r]

“This building has enough concrete in it to build 28 miles of four-lane highway,” Edward R. Murrow proclaimed in a 1953 CBS special about “Television City,” the network’s mammoth complex in Los Angeles’ Fairfax District.


Over the next six decades, TV City would became an iconic venue that hosted shows such as “The Price is Right,” “All in the Family,” and “Dancing with the Stars.”

But its status as a center of entertainment and culture may be in flux. CBS Corporation has been in discussions with brokerages to shop the complex at 7800 Beverly Boulevard, The Real Deal has learned.


After interviewing more than five firms for the roughly 25-acre property on Beverly Boulevard and Fairfax Avenue — which has about 1 million square feet of studio and office space, including eight stages — CBS recently narrowed the search down to two, sources said.


The network hasn’t indicated if it intends to vacate the property entirely, sources said. The nature of what will be marketed — a full sale, a sale-leaseback or a ground lease — remains unclear.


Representatives for CBS did not return multiple requests for comment.


CBS subleases much of the space at TV City to other production outfits, sources said. The network may be looking to consolidate its own operations at its Studio City campus at 4024 Radford Avenue, they said.

https://therealdeal.com/la/2017/09/...s-to-sell-its-television-city-campus-sources/

 

[ShawnHill1]

CBS considering sale of Television City lot

http://www.latimes.com/business/la-fi-cbs-television-city-20170928-story.html

Tons of rich television history has taken place at 7800 Beverly Boulevard since the facility opened 65 years ago this November; real estate experts expect CBS to fetch anywhere between $500 to 900 million for the lot, located in the Fairfax District, on L.A.'s Westside. More than likely TV production will continue from Television City, as HBO also uses the facility for Real Time with Bill Maher (in the Bob Barker Studio), and Fox for most of their reality shows; 19 Entertainment, which produces So You Think You Can Dance, American Idol, and other shows, have their production offices based at Television City. CBS still has a second studio lot in Los Angeles (Studio City, specifically), which now houses CBS' west coast operations, KCBS-TV (and sister KCAL-TV), and CBS News' Los Angeles bureau.

 

[seatownmedia]

http://www.latimes.com/business/la-fi-cbs-television-city-20170928-story.html

Tons of rich television history has taken place at 7800 Beverly Boulevard since the facility opened 65 years ago this November; real estate experts expect CBS to fetch anywhere between $500 to 900 million for the lot, located in the Fairfax District, on L.A.'s Westside. More than likely TV production will continue from Television City, as HBO also uses the facility for Real Time with Bill Maher (in the Bob Barker Studio), and Fox for most of their reality shows; 19 Entertainment, which produces So You Think You Can Dance, American Idol, and other shows, have their production offices based at Television City. CBS still has a second studio lot in Los Angeles (Studio City, specifically), which now houses CBS' west coast operations, KCBS-TV (and sister KCAL-TV), and CBS News' Los Angeles bureau.

So I assume you mean selling the lot and then leasing back a smaller platform at the location, as in more compact studios? This is indeed the trend in television studio concepts today. Or do you mean the main studio complex will survive? My thought is they would likely tear it down and build a smaller platform from scratch.

 

[TheBigA]

So I assume you mean selling the lot and then leasing back a smaller platform at the location, as in more compact studios? This is indeed the trend in television studio concepts today. Or do you mean the main studio complex will survive? My thought is they would likely tear it down and build a smaller platform from scratch.

I doubt they'll tear it down. I've spent some time inside, and its been well maintained. They own a huge block of property that is mostly grass, so perhaps they'll build some additional structures, or replace the large open parking lot with a more efficient multi-level deck. This sounds similar to what happened to the former NBC Tonight Show studios on W. Alameda. That building still looks pretty much as it did when Leno was there.

I thought the James Corden show was being done in the former Craig Ferguson studio in Television City. Maybe not.

 

[ShawnHill1]

So I assume you mean selling the lot and then leasing back a smaller platform at the location, as in more compact studios? This is indeed the trend in television studio concepts today. Or do you mean the main studio complex will survive? My thought is they would likely tear it down and build a smaller platform from scratch.

Like BigA mentioned, I doubt they'll tear it down as well. When NBC sold their Burbank lot in 2008, they still leased soundstages there, including for Leno, KNBC/KVEA's newscasts, Access Hollywood, and whatever NBC was still producing there until the move to Universal City was ready. There's also precedence, this time with Metromedia/Fox...when Metromedia sold its TV stations to form the Fox network, Metromedia still held on to the Sunset/Van Ness studio lot, but leased offices and soundstages back to Fox and KTTV. But since CBS already owns the Studio City lot, it's not much more incentive to stay at TV City unless James Corden or the producers of The Price is Right decide they prefer to stay at TV City instead of heading on the other side of the mountain.

 

[1069_KIFR]

They'll get rid of the Bob Barker Studio????

 

[Y2kTheNewOldies]

https://deadline.com/2018/10/cbs-te...-real-estate-firm-hackman-capital-1202483933/

Here is an Update on Television City

CBS has selected LA real estate investment firm Hackman Capital Partners as the winning bidder for the company’s iconic Television City facility near the corner of Fairfax and Beverly, a source familiar with the deal tells Deadline.

The transaction is not yet final, but the value is said to be well north of $700 million. Word first surfaced last year that CBS was considering shopping the 25-acre site, where shows like All in the Family was produced and early television figures like Jack Benny performed.


CBS declined to comment.

Hackman has backed several notable developments in LA, including the current expansion and modernization of Culver Studios. The home to classic Hollywood productions like Gone with the Wind and soon to be the Southern California base of Amazon.

 

[TheBigA]

They'll probably keep production of Price Is Right and The Late, Late Show there for a while. But if CBS is to combine with Paramount, there's a whole lot of space on that lot that could be used for TV. Might be similar to what NBC did, when it sold off NBC Burbank and moved production to Universal Studios lot.

 

[Y2kTheNewOldies]

They'll probably keep production of Price Is Right and The Late, Late Show there for a while. But if CBS is to combine with Paramount, there's a whole lot of space on that lot that could be used for TV. Might be similar to what NBC did, when it sold off NBC Burbank and moved production to Universal Studios lot.

Yes and If that deal were to come true CBS will have to use the Paramount lot again.

 

[crainbebo]

I think Y&R and B&B both tape on soundstages there. American Idol was taping there, not sure if the ABC version is there too. And Beat Shazam has been renewed for a 3rd season and they tape months in advance on one of those stages. So will some of these shows have to be moved to other facilities in Los Angeles?

 

[TheBigA]

So will some of these shows have to be moved to other facilities in Los Angeles?

If this goes the way NBC Burbank went, the facility will be run as a for-hire studio space, just as it's been under CBS. Anyone can lease time there. CBS is simply getting out of the real estate business. At least as far as this facility goes.

 

[Don CT]

I think Y&R and B&B both tape on soundstages there. American Idol was taping there, not sure if the ABC version is there too. And Beat Shazam has been renewed for a 3rd season and they tape months in advance on one of those stages. So will some of these shows have to be moved to other facilities in Los Angeles?

Y&R is owned by Sony so they would just pay a different company for the studio space.

 

[seatownmedia]

If this goes the way NBC Burbank went, the facility will be run as a for-hire studio space, just as it's been under CBS. Anyone can lease time there. CBS is simply getting out of the real estate business. At least as far as this facility goes.

So the Bob Barker studio is safe?

Seriously though, this building has a tremendous history.

Shows produced at Television City
Below is a partial list of programs that have taped episodes or broadcast live at Television City.[1]

The $10,000/25,000/100,000 Pyramid[8]
All in the Family
Amateur's Guide to Love
American Idol (2002–2016, 2018–present)
America's Got Talent (2006–2011)
Archie Bunker's Place
Art Linkletter's House Party
Beat Shazam (2017–present)
Beat the Clock[9]
Blackout[10]
The Bold and the Beautiful
Body Language[11]
Bullseye
The Burns and Allen Show
Can You Top This?[12]
Capitol
Card Sharks[13]
The Carol Burnett Show
Child's Play[14]
Climax!
Contraption
Crosswits
Dancing with the Stars (2005–present)
The Danny Kaye Show
Deal or No Deal (2005)
Dennis Miller Live
Dinah!
Dirty Rotten Cheater
Don Adams' Screen Test
Don't Forget the Lyrics! (2007–2009)
Double Dare[15]
The Edsel Show
Family Feud (1988–95, 1999–2000)[16]
Celebrity (2015–) version
Follow the Leader (TV series)[17]
The Game Game[18]
Game Show in My Head
Game Show Moments Gone Bananas
Gambit[19]
Gameshow Marathon
Give-n-Take
The Gong Show[20]
Good Times
High Rollers
The Hollywood Game
Hollywood Squares (1998–2004)
Hollywood's Talking
I've Got a Secret
Insight
The Jack Benny Program
The Jeffersons
The Joker's Wild
The Judy Garland Show
Kids Say the Darndest Things
The Larry Elder Show
The Late Late Show (1995–present)
...with Tom Snyder (1995–1999)
...with Craig Kilborn (1999–2004)
...with Craig Ferguson (2005–2014)
...with James Corden (2015–present)
The Lawrence Welk Show 1977–79
Live to Dance (2011)
Love Connection (2017–present)
Mama's Family
Match Game
Matchmaker
Maude
Me and the Boys
Meet Millie
The Merv Griffin Show
The Mike Douglas Show
The Montel Williams Show
Morris Cerullo Help Line
My Friend Irma
Now You See It
One Day at a Time
Osbournes: Reloaded
Password
The Pat Sajak Show
Pet Star
Pictionary
Playboy After Dark
Playhouse 90
Politically Incorrect
Press Your Luck
The Price Is Right (1972–present)
Real Time with Bill Maher
The Red Skelton Show
Rock Star: INXS/Supernova
Rodeo Drive
The Ropers
The Roseanne Show
Rove LA
Show Me the Money (2006)
Skating With The Stars (2010)
Slide Show
The Smothers Brothers Comedy Hour
So You Think You Can Dance (2005–present)
The Sonny & Cher Comedy Hour
Spin-Off
The Steve Harvey Show
Stockard Channing in Just Friends
Stump the Stars
Survivor Finale and reunion shows
Talking Bad
Talking Dead
Talking Preacher
Talking Saul
Tattletales
That's My Line
That's My Mama
Three's Company
Tic Tac Dough
Tony Orlando and Dawn
The Twilight Zone
There's One in Every Family
3rd Degree
The Tyra Banks Show (2005–2007)
Vibe
Video Village
Welcome Back, Kotter
Wheel of Fortune (1989–1995)[21]
Whew!
Wild 'n Out
Win, Lose or Draw
The X Factor (2011–2013)
Xuxa
The Young and the Restless
You Don't Know Jack

 

[TheBigA]

So the Bob Barker studio is safe?

Seriously though, this building has a tremendous history.

So are you campaigning for it to become a museum, or remain a production center?

 

[seatownmedia]

So are you campaigning for it to become a museum, or remain a production center?

Neither! Everything on this site doesn't have to be that serious...

 

[AbrahamJSimpson]

"The Bob Barker Studio" is a name on a plaque. If they keep producing Price in the same space because that works on all fronts, great, they can keep calling it that on air. And if not, and the space remains a rental production facility, they can leave up the plaque. But while a lovely little honor for the man, it's a meaningless distinction.

 

[Don CT]

"The Bob Barker Studio" is a name on a plaque. If they keep producing Price in the same space because that works on all fronts, great, they can keep calling it that on air. And if not, and the space remains a rental production facility, they can leave up the plaque. But while a lovely little honor for the man, it's a meaningless distinction.

Does Freemantle pay rent to CBS to use the studio or is it grandfathered in the broadcast rights.

 

[TheBigA]

Does Freemantle pay rent to CBS to use the studio or is it grandfathered in the broadcast rights.

My understanding is that everyone pays rent in some way, whether it's inhouse or outside. The studio costs are charged against the show budget.

That applies to network shows like James Corden, or even tonight's election coverage.

Once CBS sells the building, it will be up to the show producers to decide if they can find cheaper space elsewhere.

 

[Don CT]

My understanding is that everyone pays rent in some way, whether it's inhouse or outside. The studio costs are charged against the show budget.

That applies to network shows like James Corden, or even tonight's election coverage.

Once CBS sells the building, it will be up to the show producers to decide if they can find cheaper space elsewhere.

How do they handle studio costs at the Broadcast house in NY. Does the News division pay for studio space or is it all covered in the overhead of the building.

 

[TheBigA]

How do they handle studio costs at the Broadcast house in NY. Does the News division pay for studio space or is it all covered in the overhead of the building.

I assume you mean West 57th, where you have network news, local TV, and CBS news radio all in one building. My understanding is that each division is charged a fee for their share of the building. The company owns the building so the costs have to be shared appropriately. Same thing with the former Ed Sullivan Theater, where The Late Show tapes. CBS owns the building, and leases space to Colbert's production company.