CBS Hangs the For Sale Sign.....Again

On the heels of selling off Black Rock, CBS is looking to sell off more of their buildings as the company appears to have turned from a media outlet, to a building flipper.

The network is now looking to part with CBS Radford in Studio City, California.

This was the internal email that was sent out to the CBS employees from CEO George Cheeks. It was obtained by FTVLive:

CBS Team – I wanted you to be aware of something that you will read about in media reports very soon.

ViacomCBS has hired the commercial real estate firm JLL to explore a potential sale of our Radford campus in Studio City. Similar to our announcement last week regarding the sale of Black Rock in New York, this aligns with our strategy to divest non-core assets like real estate and direct that value to priorities such as creating more of our best-in-class content.

I know even the possibility of a sale raises lots of questions, especially for those who work at Radford. I can tell you that regardless of whether Radford is sold, we will ensure we have the studio capacity to support our leading broadcast and production businesses. Beyond that, until we have more definitive information, there isn’t much we can say at this point in the process. I will share any new information with you as soon as I can.

George