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11/30/2021, 3:44 PM (Source: TeleTrader)
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ViacomCBS to sell CBS Studio Center for $1.85B

ViacomCBS Inc. announced on Tuesday it entered a definitive agreement to sell CBS Studio Center and its operating business for $1.85 billion.

CBS Studio Center will be acquired by a partnership formed by Hackman Capital Partners, LLC and Square Mile Capital Management, LLC.

The transaction is expected to close before the end of the year, subject to regulatory approval. CBS Broadcasting Inc. will then enter into a long-term lease-back agreement of the Broadcast Center and ViacomCBS will continue to occupy stages and produce content on the lot.

Baha Breaking the News (BBN) / NP