Netflix stalls proposed acquisition of historic Radford Studio Center lot

Netflix has stalled its proposed acquisition of the Radford Studio Center lot in Los Angeles, according to reports from The Wrap and The Hollywood Reporter. The streaming platform is currently assessing how much production space it will require in the region going forward. [1][2]

Hudson Pacific chief executive officer Victor Coleman disclosed the delay during an earnings call on Thursday. Coleman stated that Netflix has not closed the transaction and may not decide whether to finalize the deal until later in the year, or may opt out entirely. [1][2]

The transaction would give the streaming platform direct ownership of a major Hollywood production facility. The Wrap reported that Netflix is one of the largest tenants of Hudson Pacific Properties, leasing more than 700,000 square feet of office and production space in Hollywood. The Hollywood Reporter noted that Netflix is the third-biggest tenant of Hudson Pacific. [1][2]

The delay highlights ongoing questions regarding whether owning physical studio lots aligns with streaming media production strategies. The parties involved have not announced a revised timeline for completing or terminating the potential purchase. [1][2]