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Television City Studio Owner Bets $1 Billion on L.A. Production Comeback
The L.A. City Council is poised to give final approval to a $1 billion expansion of Television City, as the developer bets on a production turnaround.
Construction is underway on a $500 million build at Warner Bros. Ranch, and Comcast is pouring $1 billion into Universal City. “We are confident these cycles will work themselves out and Los Angeles will continue to be the global capital of media,” says Zach Sokoloff, who is overseeing the project and Hackman’s upgrade of the Radford lot in Studio City. She fears neighbors are being “duped” and will bear the brunt of “overdevelopment that has nothing to do with sustaining and growing the entertainment industry.”
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