Two of the most famous brands in Entertainment, Fox and Disney are competing in Century City.
The Walt Disney Company admitted on Tuesday that it would evacuate Lot Fox Studio, as she was the main occupier since most of Disney bought. Robert Murdoch The entertainment assets at 21st Century Fox in 2019. The deal of $ 71.3 billion did not include the real estate studio group. However, she appeared on a ruling that will move Disney as a tenant for at least seven years.
Disney rental space on the property of Pico Bolivard in Fox, Los Angeles, ends next March.
Those familiar with Disney, who were not allowed to speak publicly, said that the company does not have plans to renew the lease, and instead it plans to leave by the end of the year.
This step puts pressure on the Fox Corp to find new tenants for office space and offices where movies and TV programs were produced for generations. The famous films that were brought to life include “Miracle on 34th Street”, “The Seven Year Itch” and “The Sound of Music”. LOT is also home to Fox SPORTS, Fox Broadcast Network and the book “The Simpsons”.
Fox receives $ 50 million annually to rent the space, according to the organizational stadiums.
Disney is the largest tenant, but Fox’s executives say they are fabricated in finding new passengers.
Fox said on Tuesday in a statement, “Fox is not up to him in terms of location and the production of distinguished production and post -production facilities,” Fox said on Tuesday in a statement.
Disney has gradually threw Fox DNA since the deal. In 2020, Disney’s brand “Fox” retired from the slogans and assets she gained from Fox to reduce confusion with the features that are still part of the Murdoch Empire, including Fox News.
Since the acquisition, dozens of TV studio and FX network managers have long been in their offices – a common feature of those who live in WestSide in Los Angeles, allowing them to maintain their transfer.
Over the past six years, the Fox 103 building was in the southeastern corner of the homeland, a location outside Disney.
But Disney spent last year taking steps to transfer the teams to Borbank, where Disney owns her historical studio and a adjacent complex that includes ABC and Disney Animation.
Disney’s goal is to combine a creative center for her television groups, including CEOs who remained on Fox Lot, according to people with knowledge who were not allowed to comment.
The company refused to comment on its plans for the Disney-owned TV products, which are still on Fox Lot, including dramas “9-1-1” and “9-1-1: Lone Star”, which was produced by Ryan Murphy, Brad Valsouk and Tim Mineer.
The early landmarks of Disney-Fox-which was published by the CEO of Disney Pop Egar and Murdoch-was visualized by the Century City Complex as one of the assets listed in the sale of Disney.
But Murdoch’s older son, Lachlan, who is the Fox CEO, insisted on adhering to his company on the main real estate where Shirley worked as a temple, Marilyn Monroe and Mile Broks once. (Studio founder William Fox purchased 99 acres of land between Santa Monica Street and Pico Street 101 years ago. Fox, after financially beaten the movie “Cleopatra” for 1963, sold a lot of its dispute, which now constitutes a large group of Cenury City.)
Lachlan Murdoch, whose office is located in the ART DECO building of the Fox Management as part of the heart of his beating company. He also realized the value of vocal facilities and auxiliary production facilities, which were in the high demand during the production period to support the launch of many broadcasting services.
However, production in Los Angeles did not recover from the strikes of the book and representatives of 2023, and many buds were lured into other states and countries with generous tax incentives.
This transformation comes as Fox was looking for the city’s approval to a Expanding $ 1.5 billion for its website at Century CityA project that is visited by adding more than 2 million square feet of the new building area, including many new audio stages, post -production facilities and a new Al -Jabhat Street Street Building from the stars.
As part of this re -development process, four historical piles are to be transferred near the center of the piece to another location near the Olympic Street.
Disney’s departure from Fox’s ambitious plans to expand in Cenury, according to an executive director who was not allowed to speak publicly. Fox project in the initial approval phase with the city.
Disney got some valuable privileges through the acquisition of Fox, including “Avatar”, “Alien”, Marvel’s “X-Men” and “Deadpool”. Disney has also controlled the broadcast service, which maintains its home base in Santa Monica.
However, some analysts and investors say that Disney is largely paid on property, which has placed Burbank Entertainment Beheemoth in a weak position when hitting the Covid-19 pandemic in 2020.
In that spring, Disney took additional debts after closing her entertainment gardens, closing cinemas and called Time Out.
Disney has looked at reducing costs during the past two years.
