Netflix is closing in on a deal to acquire the historic Radford Studio Center in Studio City for approximately $330 million, according to a source familiar with the negotiations. The agreement, backed by Goldman Sachs, is described as nearly finalized.
According to THR, if completed, the purchase would mark a significant shift in Netflix’s Los Angeles production strategy, giving the company ownership of a major studio campus rather than continuing its long-standing reliance on leased space.
The 55-acre Radford lot, which includes 22 soundstages, office buildings, and backlot space, has hosted iconic productions such as Seinfeld and Gilligan’s Island. However, the property has faced years of underinvestment, with renovation plans already underway.
Netflix currently operates out of multiple leased facilities across L.A., including Sunset Studios, where it maintains its headquarters and pays roughly $27 million annually in rent to Hudson Pacific Properties. That lease runs through 2031, but the Radford acquisition could give the streamer a long-term owned alternative and greater control over its production infrastructure.
The timing is notable. The deal comes amid a prolonged slowdown in Los Angeles production, with soundstage occupancy hovering around 62 percent in early 2025, well below pre-pandemic levels. That downturn, combined with shifting content spending and emerging questions around AI-driven workflows, has softened valuations across studio real estate.
For Netflix, the potential acquisition represents an opportunistic play. The company has been steadily expanding its global production footprint, with major investments in New Mexico, New Jersey, and international hubs. Owning Radford would solidify its presence in Hollywood while reducing dependence on third-party landlords.
It would also set a new benchmark for studio lot valuations, marking the first major deal of its kind in more than five years and signaling where the market may be headed next.
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