Netflix has not closed its purchase of Radford Studio Center, the 55-acre production lot in Studio City, Los Angeles, Hudson Pacific Properties chairman and CEO Victor Coleman told analysts on the company’s third-quarter earnings call on 5 November. “Netflix has not closed the transaction, and they are not deciding to close it until sometime maybe later in the year,” Coleman said, before adding: “Or not.” A Netflix spokesperson told TheWrap the next day that the deal is progressing on the agreed timetable and milestone dates.
Key facts
- Asset: Radford Studio Center, Studio City, Los Angeles (formerly CBS Studio Center); 22 stages, according to its own specifications
- Status: not closed, Hudson Pacific’s Victor Coleman said on 5 November; Netflix says the deal is on its agreed timetable
- Price: not disclosed; estimated at $330m-$400m, The Hollywood Reporter reported
- Seller: a Goldman Sachs-led lender group that took control of the lot after Hackman Capital Partners defaulted on its loan
- Hudson Pacific link: Netflix leases more than 700,000 sq ft of offices from Hudson Pacific at Sunset Studios, on leases that run to 2031
Hudson Pacific is not a party to the Radford deal. Its interest is as Netflix’s landlord: the streamer is its third-largest tenant, occupying the ICON, EPIC and CUE office buildings on Sunset Boulevard, and what Netflix does in Studio City bears directly on how much of that space it keeps after 2031. Coleman was answering an analyst’s question about Netflix’s future space needs when he made the remark, and he said the timing was “not a concern of ours”.
What Hudson Pacific said
Coleman told analysts that Radford “doesn’t fit the footprint” as a replacement for Netflix’s existing offices. He described talks with the streamer as “very fruitful, very productive”, said he expected “some resolution on some levels” by the end of the year, and said conversations about extending beyond 2031 were heading in a direction Hudson Pacific is comfortable with.
The answer matters to the company’s balance sheet. During the quarter Hudson Pacific and its joint-venture partner extended the $1.1bn loan on their Hollywood Media Portfolio to November 2027, without a principal paydown. President Mark Lammas said the first priority is to settle Netflix’s requirements; only then would it be productive to go back to the lender on a longer-term refinancing. The portfolio’s Hollywood stages were 95% leased in the quarter, against 74.7% across Hudson Pacific’s in-service stages.
How the deal has moved
Netflix began talks with Goldman Sachs over Radford in April. The lot had passed to a Goldman-led group after Hackman Capital Partners, which bought it from ViacomCBS for $1.85bn in 2021, defaulted on a $1.1bn loan, Deadline reported. The Hollywood Reporter, citing a person familiar with the transaction, said the initial 90-day due-diligence period has been extended, and that the source did not read the extension as a sign the deal would fail. The outlet added that Hollywood real-estate circles still expect the sale to close.
The same outlet reported that Netflix has been cancelling some soundstage commitments with Hudson Pacific, and that the streamer has expressed interest in leasing space at Echelon, a $450m studio complex opening on Santa Monica Boulevard. Netflix declined to comment to The Hollywood Reporter. Deadline’s own source described the deal as progressing on schedule, and the outlet noted that no filing on the purchase has yet been made with the SEC or Los Angeles County.
Netflix already owns production campuses outside California, including Netflix Studios Albuquerque in New Mexico and the Fort Monmouth site under construction in New Jersey. Radford would give it an owned lot in Los Angeles, where on-location shoot days in the third quarter were 29% below their five-year average, according to Coleman. California’s incentive pressure is a recurring theme in our coverage, most recently with the Grey’s Anatomy spinoff that moved to New Mexico.
Our reading
Two statements sit side by side here, and neither contradicts the other. Coleman is right that the deal has not closed; Netflix says the schedule it agreed has not slipped. The open question is what that schedule is, and neither company has made it public. The price band and the diligence extension rest on unnamed sources, and readers should weigh them that way.
For Los Angeles stage operators, the stakes are clear enough. A Netflix-owned Radford would take one of the city’s largest tenants partly out of the leasing market just as stage demand there is weak. The next evidence will be a recorded deed or a Netflix filing, and Hudson Pacific’s update on its Netflix leases at its investor day on 1 December.
Related: Fox closes its $22bn Roku acquisition; Grey’s Anatomy spinoff leaves California for New Mexico; CJ CGV’s record Q3 on premium formats.
Sources
- Hudson Pacific Properties Q3 2026 earnings call, 5 November 2026 (transcript, The Motley Fool); Coleman and Lammas remarks
- Hudson Pacific Properties investor events page; Q3 2026 earnings call, 5 November 2026
- The Hollywood Reporter (Winston Cho), 6 November 2026; diligence extension, $330m-$400m estimate, Echelon interest (unnamed sources)
- TheWrap (Jacob Bryant), 6 November 2026; Netflix spokesperson statement
- Deadline (Dominic Patten), 6 November 2026; Goldman Sachs-led owner group, diligence extension, Radford specifications