CBS Has Found a Buyer

FTVLive told you that CBS was looking to place its iconic Studio City in LA up for sale and it appears that they now have a buyer.

The LA Times writes that CBS has reached a $1.85-billion deal to sell the CBS Studio Center complex in Studio City — home to such landmark TV shows as “Seinfeld,” “The Mary Tyler Moore Show,” “Gilligan’s Island” and “It’s Always Sunny in Philadelphia.”

The staggering price tag underscores the value — and scarcity — of TV soundstages in Los Angeles as content producers scramble for space to shoot TV shows and movies to stock their streaming services. ViacomCBS disclosed its plan to sell the property last summer.

The deal, announced Tuesday, represents one of the largest ever real estate transactions for a TV studio complex in Los Angeles.