Historic CBS Television City on verge of being sold

The historic CBS Television City complex is on the verge of being sold, the Los Angeles Times reported.

The likely buyer is Hackman Capital Partners, according to the newspaper, citing people familiar with the negotiations it didn’t identify. The property may be valued at $700 million the Times said.

CBS originally acquired the complex in 1950 and it became its West Coast production hub starting in 1952.

Barry Nelson in 1954’s Casino Royale

One of the early shows produced at Television City was Climax!, a series of live dramas beginning in 1954. The third Climax! broadcast was an adaptation of Ian Fleming’s Casino Royale, the year after the first James Bond novel was published. It featured Barry Nelson as an American Bond.

Admittedly, that’s one of the more obscure Television City productions.

“Television City has played an important role in CBS history and American pop culture as home to many legendary TV shows,” the Times noted in its latest story. “It is where entertainers such as Jack Benny, Judy Garland and the cast of ‘All in the Family’ performed.”

CBS has moved most of its West Coast entertainment operations to CBS Studio Center, with the network renting out Television City to programs not owned by CBS. The Times said if the deal with Hackman is finalized, “CBS is expected to continue to operate the 25-acre studio as a tenant for a period of time.”

Neither CBS nor Hackman commented to the newspaper for its story.