CBS: sells Television City complex
(CercleFinance.com) - On Monday evening CBS announced an agreement to sell its iconic Television City complex to Hackman Capital Partners, a Los Angeles-based property developer, for 750 million dollars.
However, the media giant says that its programmes will continue to be produced on this campus for at least the next five years, and that it will keep office space for the US headquarters of CBS Studios International.
This transaction, which aims to increase CBS' financial leeway and generate funds for strategic growth initiatives, remains subject to customary conditions and is expected to be finalised in early 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
However, the media giant says that its programmes will continue to be produced on this campus for at least the next five years, and that it will keep office space for the US headquarters of CBS Studios International.
This transaction, which aims to increase CBS' financial leeway and generate funds for strategic growth initiatives, remains subject to customary conditions and is expected to be finalised in early 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.