Murdochs to retain Fox Studio lot valued at $1B+ in Disney deal

Century City lot is home to more than 80 buildings totaling 1.8M sf

TRD LOS ANGELES /
Dec.December 14, 2017 09:22 AM
Fox Studios (Credit: Wikimedia Commons, Clipart Library)

The sprawling 20th Century Fox lot in Century City will remain with the Murdoch family after Disney’s reported $52.4 billion acquisition of Fox’s assets Thursday.

The lot — valued at up to $1.5 billion — will stay in control of a spinoff company retained by the Murdoch family that includes Fox News, Fox Broadcasting Company and FS1 Sports, according to Bloomberg and the Hollywood Reporter. The spinoff will keep all of 21st Century Fox’s global real estate assets in the deal.

Retaining the lot will allow the spinoff to charge Disney rent to use it, while allowing the companies staying with the Murdochs to remain on the property.

The land beneath the lot is estimated to be worth $1 billion on its own and is home to 80 buildings totaling 1.8 million square feet of space, THR reported.

The studio was integral to the history of film, particularly during the industry’s early years. It’s where the actors from “The Sound of Music” recorded all of the music for the film, and part of it was even sold off to raise money when the epic 1962 film “Cleopatra” ran well over budget. [Bloomberg and The Hollywood Reporter] — Dennis Lynch


Related Articles

arrow_forward_ios
Hadid and the home (Credit: Getty Images)

Hadid: I must continue building Bel Air mansion to satisfy creditors

The Beverly House (Credit: Jade Mills Estates)

Beverly House owner hopes Saudi prince is his white knight

Mohamed Hadid says he can’t pay to tear down his mansion (Credit: Getty Images, iStock)

Hadid says he’s too broke to tear down megamansion

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Oprah Winfrey and Jeff Bridges with the home (Credit: Getty Images and Realtor.com)

Oprah has now spent $86M on her Montecito real estate empire

Jonas Brothers set real estate records in Encino

Jonas Brothers set real estate records in Encino

Mohamed Hadid and his ill-fated spec mansion

Hadid’s Bel Air mansion must be torn down: city

Simon Fuller and his wife, Natalie

Off key: “American Idol” creator cuts price on Bel Air home

arrow_forward_ios