Netflix is under contract to purchase the Radford Studio Center in Studio City, California, for close to $400 million, according to multiple media reports. The production facility sold for $1.85 billion just five years ago, making this a significant discount. The acquisition suggests Netflix will continue to ramp up its original content production, adding to its growing collection of studio properties. Netflix stock has fallen more than a third over the past year and is trading at a three-year low earnings multiple.
Netflix IncNetflix is buying Radford Studio Center at a significant discount, adding production capacity.
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