Did you ever wonder what happened to the legendary Fox Studios after Disney acquired 21th Century Fox in 2019 for $71.3 billion? The studio lot is now set for a $1.5 billion expansion. The rumor that it was going to be sold as real estate for a large development complex fortunately did not materialize.
The Fox lot, in the Century City part of Los Angeles, is still under the control of Rupert Murdoch’s Fox Corp., and is now going to be upgraded with the addition of office towers, sound stages, and other facilities. The upgrade would add nine sound stages to the existing 15, as well as a 20-story building.
The 53-acre (214,450 square meters) studio lot is located at the corner of Pico Boulevard and Avenue of the Stars. When Murdoch sold the 21st Century Fox assets to Disney, the deal included the 20th Century Fox film and TV studios, but did not include the studio property, Fox Television stations, and Fox Entertainment. However, Disney rented the Fox studios to produce its own shows.
As reported in last Monday’s Water Cooler, FilmLA indicated that existing sound stages in the Los Angeles area have been fully rented and that demand for new sound stages has escalated, with a waiting list as long as five film productions, and in order to meet demand, supply would need to double in Los Angeles in the next few years.
Pictured above, inside the Fox lot during L.A. Screenings 2018
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