Hackman, the world’s largest independent studio owner, reportedly told investors last month that it had suspended negotiations to restructure the debt on the 55-acre site, and is expected to turn over the facility to Goldman Sachs.
Studio owners have struggled to lease space due to a sharp downturn in film and TV production volume since 2022. Bloomberg reported that revenue from the property covered just 21% of Hackman’s debt service costs on the property as of last June.
In a statement to Variety, Hackman said it is working with the banks on a resolution.
“We are continuing to work with the Radford lenders on a path forward for this asset,” a spokesperson said. “This is a challenging time for all suppliers…
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‘ Some details of this article were extracted from the following source www.imdb.com ’
