Netflix Says Radford Deal Is on Schedule, Though It Has Not Closed
Key Facts
A Netflix spokesperson said the proposed acquisition of Radford Studio Center in Los Angeles is proceeding on schedule and according to the agreed milestones. But the head of Hudson Pacific, the property’s owner, said the deal has not closed. The statements place the transaction in the procedural progress stage without confirming its completion. TheWrap quoted the spokesperson as saying the deal is "proceeding on the agreed schedule and according to the agreed milestones." Closing remains the decisive step that will determine whether Netflix owns the center.
The head of Hudson Pacific said Netflix has not closed the deal and may not decide whether to do so until later in the year, or may not close it at all. The statement leaves the timing of a final decision open, despite the company’s confirmation that milestones are proceeding on the agreed schedule. Progress against the schedule does not mean the deal has been completed or that a final purchase decision has been made. The comments from both parties carry weight as negotiations and due diligence continue ahead of any closing. The head of Hudson Pacific did not give a confirmed date for the decision.
A Hollywood Reporter story, cited by Yahoo Finance, said the initial 90-day due diligence period had been extended, citing a person familiar with the deal. The extension means the review has gone beyond its initial timeframe as the company continues to assess the transaction before making a decision. The report did not give a new end date for the due diligence period. This comes alongside Hudson Pacific’s indication that a decision on closing could be delayed until later in the year. Netflix says the milestones remain on schedule, while the closing itself is still not guaranteed.
Netflix leases more than 722 thousand square feet of Hudson Pacific offices in Hollywood under contracts running through September 2031, according to Bisnow. The leases show the company has an established property presence in the area for years to come, alongside its potential bid to own a production center. This places the deal within an ongoing property relationship between the two parties, rather than as a purchase separate from Netflix’s Hollywood operations. However, the existing leases do not settle whether the company will buy Radford. The final decision depends on what Netflix decides after completing the deal’s stages.
The property’s sale dates back to 2021, when ViacomCBS announced an agreement to sell CBS Studio Center and its related operating business to a partnership between Hackman Capital Partners and Square Mile Capital Management. The agreement was valued at about $1.85 billion at the time, according to Paramount Global’s investor relations announcement. In April 2026, Bloomberg reported that the property had been offered to Netflix after lenders, including Goldman Sachs, regained control of it. The agency described the asking price at the time as a fraction of the previous sale value. This provides context for how the property’s status has changed since the 2021 deal, without settling the value or outcome of the current transaction.
Netflix’s interest in Radford followed its withdrawal from bidding for Warner Bros. Discovery, Bloomberg reported, noting that the company could instead turn to a smaller studio lot in Los Angeles. That context places Radford among the company’s property moves in the city after it exited a broader acquisition effort. In the market, Netflix shares closed at $63.41 on November 6, 2026, according to EL7 data. No other share-price levels are available in the documented session data here. The deal remains contingent on Netflix’s decision on whether to close, which the head of Hudson Pacific said could come later in the year or may not come at all.