From TRD LA: Ted Sarandos is wasting no time solidifying his presence on the Westside.
The chief content officer at Netflix dropped a whopping $20 million for a 4,700-square-foot villa above El Sol County Beach in Malibu, Variety reported.
The oceanfront home on the Pacific Coast Highway has four bedrooms, four bathrooms, a game room and a media room. A separate 600-square-foot guesthouse has two bedrooms and a three-car garage.
Financier Blair Frank previously owned the site, which he bought for the much-smaller price tag of $4.9 million in April 2007, property records show.
Christopher Cortazzo of Coldwell Banker had the listing. Jonah Wilson of Hilton & Hyland represented Sarandos.
Sarandos and his wife, Nicole Avant, also own David Spade’s former 3,800-square-foot pad in Malibu. The two sold their Beverly Hills estate for $8.82 million earlier this year.
The Hollywood executive joined Netflix in 2000, the same year it launched its subscription service. He now serves as its chief content officer, responsible for a $6 billion budget. [Variety] – Natalie Hoberman