Tribune sells Hollywood studio for $125m
A real estate investment firm has purchased the original Warner Bros studio for $125 million (Dh456.25 million) from the Tribune Co, according to a newspaper.
Hudson Capital bought the historic Hollywood studio complex, the firm's managing partner Victor Coleman told the Los Angeles Times in a story posted on its Web site late Wednesday.
It was the first major sale of Tribune property since Chicago real estate mogul Sam Zell took over the company, which owns the Los Angeles Times, the Chicago Tribune, and other media outlets.
Messages left with Tribune Co. late Wednesday were not immediately returned.
The block-sized lot now serves as the home of Tribune Entertainment and Tribune Studios, which produces syndicated TV shows for the Chicago-based company. Television shows filmed at Tribune's production facilities on the lot include "Judge Judy" and "Hannah Montana."
Also on the lot is Tribune-owned local TV station KTLA, whose executives have said the station would remain there as a tenant indefinitely. The sale included three other parcels in the neighborhood.
Hudson also bought the nearby Sunset-Gower Studios, once home to Columbia Pictures, in August for $200 million (Dh730 million). (AP)
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