Blackstone values studio lot owner portfolio at $1.65B
June 30, 2020
Blackstone has agreed to buy a 49% stake in Hollywood movie lot owner Hudson Pacific Properties' Hollywood Media Portfolio, valuing the portfolio—which counts Netflix and Walt Disney among its customers—at $1.65 billion, according to The Wall Street Journal. The deal reportedly signals Blackstone's confidence in content production.
This article was updated on July 2 to clarify that the investment was in a portfolio of Hudson Pacific Properties, not the company itself.