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
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Simon Fuller and the home (Credit: Michael Kovac/Getty Images, and LAT/MLS)

“American Idol” creator sees $4M gain on Bel Air estate sale

Michelle Pfeiffer and David E. Kelley purchase $22.5M Pacific Palisades home (Credit: Compass and Getty Images)

Michelle Pfeiffer, David E. Kelley buy Pacific Palisades pad for $23M

Billionaire David Saperstein lists Malibu home (Credit: Alfred Yson/Sotheby's International Realty via The Wall Street Journal)

Metro Networks founder Saperstein lists Malibu home for $115M

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Actor Charlie Sheen and his mansion at 14003 Aubrey Road in Mulholland Estates (Credit: Getty Images and Realtor.com via LAT)

Charlie Sheen takes a loss on Mulholland Estates party pad

Michelle Pfeiffer, Jim Crane and the home (Credit: Getty Images and Zillow)

Move over Ellen: Michelle Pfeiffer is latest celeb RE player

1200 W. 7th Street and 5750 Wilshire Boulevard (Credit: Google Maps)

Here are LA’s biggest office leases of 2019

arrow_forward_ios
Loading...