Expansion set for old Hollywood studio amid surging demand for L.A. soundstages
Expansion set for old Hollywood studio amid surging demand for L.A. soundstages
Abstract
A historic Hollywood studio site is poised for a $600-million comeback in the new era of streaming entertainment. The owner of Television Center, once home to Technicolor’s filmmaking laboratory and Metro Pictures Corp., plans to turn the dated complex into a bigger, more modern studio. The surge in demand is a welcome development. The city and state leaders have been trying for years to lure filmmakers back from competing states and countries with various financial incentives. The state legislators authorized an additional $150 million in tax credits last year. The City of L.A. and state officials have been Trying for years.. to lure film and television production.