Blackstone Group Inc. is in superior talks to kind a enterprise with Hudson Pacific Properties Inc., the Los Angeles proprietor of movie and tv manufacturing services, in a partnership valued at greater than $1.four billion, based on an individual acquainted with the matter.
The enterprise would construct out the prevailing studio services, this individual mentioned. Hudson Pacific owns three studio heaps and 36 sound levels, which have been utilized by Netflix Inc. for authentic movie and TV manufacturing.
Whereas there is no such thing as a deal but, one may very well be reached inside the week, this individual mentioned.
As one of many world’s largest actual property homeowners, Blackstone in recent times as been lightening up on conventional business actual property equivalent to resorts and retail facilities in favor of properties geared towards evolving shopper habits, equivalent to e-commerce via its deal with industrial warehouses. An settlement with Hudson Pacific would characterize the New York-based investment agency’s greatest content material deal.