CBS Considers Selling its Radford Lot in Studio City, Potentially Another End of an Era

ViacomCBS’ sell-off of its iconic real estate properties may next include the CBS Studio Center, popularly known as the “CBS Radford lot,” in Studio City. In a memo to staffers, CBS CEO George Cheeks confirmed that it had hired commercial real estate firm JLL to explore a potential sale of the Radford campus.

The news comes following last week’s sale of CBS’ iconic New York headquarters, the Black Rock skyscraper, for $760 million to real estate investment firm Harbor Group International. In Los Angeles, CBS Corp. sold its similarly iconic Television City property in the Fairfax district to real estate investment company Hackman Capital Partners for $750 million in 2018.

CBS’ entertainment division had long been based out of Television City, but moved to the Radford lot in 2008. KCBS, which had been based at Columbia Square, and KCAL, which moved in with KCBS when the stations became a duopoly, decamped for the Radford lot in 2007. In recent years, CBS Radford expanded and built new structures, including its CBS Television facilities, to handle the addition of the TV stations, the entertainment division and the addition of shows such as “Entertainment Tonight.”

Originally the Mack Sennett and then the Republic Pictures lot, CBS began leasing studio space in the early 1960s; by 1967, it had purchased the lot and renamed it CBS Studio Center. With 18 soundstages, CBS Radford has become particularly known for being the homebase over the years for some of the biggest sitcoms on TV, including “Seinfeld.”

CBS continues to lease production space at Television City (including the “Price is Right” and “Late Late Show with James Corden” stages), and per Cheeks’ memo, that would likely also be the case with CBS 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,” he wrote.

It’s expected that even if some CBS departments move off the lot following the sale, KCBS/KCAL is expected to remain, given the specific utility of its broadcast center. Meanwhile, now that Viacom and CBS have re-merged, the combined company would still own the famed Paramount lot on Melrose, even as it sells off its other facilities.

Read more at Variety here.

Television City Lights It Up Blue

CBS Television City in the Fairfax district and CBS Studio Center ("the Radford lot") in Studio City were feeling blue this past weekend. Both facilities were bathed in blue light on Friday, April 1 and Saturday, April 2, in recognition of Autism Awareness Month.

The two-night event was part of Autism Speaks' Light It Up Blue campaign to promote awareness. In New York, Rockefeller Center and the Empire State Center lit up. The event was timed to the fourth annual United Nations World Autism Awareness Day on April 2.

From Television City to Studio City: CBS Moves

CBS' long-awaited move from Television City -- its West Coast base since 1952 -- to the CBS Studio Center (also known as the "Radford lot") happens at the end of the month.



It's been a long time coming; the network first started circulating drawings of a new CBS building in 2003; ground breaking took place (above, CBS' Leslie Moonves, Mayor Antonio Villaraigosa and others) in 2005.

I write in Variety:

The new 162,000-square-foot building, which has been housing KCBS and KCAL since last April, will also lodge Eye topper Leslie Moonves' West Coast office. It will be the home base for CBS Paramount TV Network Entertainment Group head Nancy Tellem and CBS Entertainment prexy Nina Tassler.

Much of the CBS Entertainment team will also make the move to the building, although some departments will remain at Television City. Plan is to gradually bring other staffers over in waves.

As for Television City, the historic landmark -- which first opened in 1952 -- isn't in danger of disappearing. Unlike Columbia Square, which went dark after CBS sold the facility and KCBS/KCAL (plus KNX and KCBS-FM) moved out, TV City is still owned by the Eye and will remain an active facility.

In other words, contestants will still be "comin' on down" for "The Price is Right" at TV City for the forseeable future.

By April, Fox becomes the only major broadcast net not located in the San Fernando Valley. NBC Entertainment is also moving this year, from Burbank to the Universal lot.