ViacomCBS continues to shed non-core assets, announcing Tuesday a definitive agreement to divest the CBS Studio Center and associated businesses to the partnership of Hackman Capital Partners and Square Mile Capital Management for $1.85 billion.The company said the transaction was the result of a widely marketed sale process, which attracted interest from a number of buyers for the Los Angeles studio lot.
The property sits on a 55-gross-acre site in Studio City and consists of over 1 million square feet of space, including 22 stages, production office and support buildings, third-party tenant offices, a purpose-built broadcast center and filmable backlot locations.“This sale is part of an ongoing optimization of ViacomCBS’ real estate and
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