CBS sells the iconic CBS Television City for $750 million

The Hollywood Reporter

In striking a deal to sell the 25-acre property to real estate developer Hackman Capital Partners, CBS said that the handful of CBS shows that still tape there -- The Late Late Show with James Corden, The Young and the Restless, The Bold and the Beautiful and The Price Is Right -- will stay put for at least the next five years. CBS Television City is also where non-CBS shows like American Idol, Dancing with the Stars and Real Time with Bill Maher film their shows. Since it opened in 1952, CBS Television City has been home to many iconic shows and performances, from Elvis Presley on The Ed Sullivan Show to The Carol Burnett Show to Three's Company, All in the Family and the Los Angeles edition of Late Show with David Letterman. CBS acting CEO Joe Ianniello said Hackman was chosen because it has a history of preserving and modernizing historic properties like the Culver Studios. “We sincerely believe Hackman Capital will do a terrific job as the next steward of this cultural landmark, just as they have respected and maintained other classic properties — including their work to modernize the historic Culver Studios,” Ianniello wrote in a memo to CBS employees. In July, the Los Angeles City Council recognized Television City as a cultural-historic landmark.