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Y&R and B&B Could Lose Their Home at CBS Television City in Hollywood

By Nics Abasta

Y&R and B&B Could Lose Their Home at CBS Television City in HollywoodCBS Corporation recently announced the sale of CBS Television City to Hackman Capital Partners in Los Angeles for $750 million. The 25-acre property has been home to two soaps, “The Young and the Restless” and “The Bold and the Beautiful,” ever since they made their debut in 1973 and 1987, respectively. The sale agreement gives Hackman Capital the right to use the Television City trademark.

What other changes will the new owner implement once they take over? Does this mean they will be losing their production facility home? Will Y&R and B&B be moving to a new studio? If so, when and where?

President and acting CEO of CBS Corporation Joseph Ianniello said: “The sale of Television City unlocks significant value, increasing CBS’ financial flexibility, including the ability to redeploy capital for strategic growth initiatives such as additional content investment.”

He added that the site will be given to a new owner who will continue to maintain the property as a cultural landmark and a modern production facility. Hackman Capital has a good track record when it comes to managing classic properties. Just take a look at what they did with the landmark Culver Studios.

Michael Hackman, CEO of Hackman Capital Partners, was happy and proud that their company was able to close the deal. He considers the legendary Television City as a great addition to their portfolio and can’t wait to see what they can do to improve the production studio.

Fans don’t have to worry for now because the Y&R and B&B, as well as all the other CBS programs including “The Price is Right,” “The Late, Late Show with James Corden,” and “Dancing With the Stars” currently being produced at CBS Television City will continue to use the facility for the next five years. Nobody knows for now where the shows would move after their five-year extended stay. Two of the most likely options are the Sony Pictures lot in Culver City, California and CBS Studio Center in Studio City.

So what do you think of the CBS selling Television City?

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Nics Abasta

    Nics Abasta has a degree in Development Communication. Nics enjoys writing about entertainment, as well as tech and business news. During her spare time, she likes to read youth fiction books, study photography or go out with her husband and kids.

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    2 Comments
    1. Charles David Haskell says

      I am shock that CBS decided to sell Televison City Studio. Dancing With The Star will be able to get another studio from Warner Bros to work in. I wouldn’t be shock if Y/R and B/B will be working in Warner Bros Studio also. CBS could build another studio to work in five years.

      Reply
    2. Guest says

      If DWTS is filmed at CBS studios, why does it play on ABC?

      Reply

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