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CBS Sells Television City; Y&R and B&B To Remain On Property For At Least Next Five Years

Courtesy/CBS

As it has been in the works for awhile,and  on Monday news broke that the CBS Corporation reached an agreement to sell its 25-acre CBS Television City property including its soundstage operations, to real estate developer Hackman Capital Partners for $750 million.

Hackman Capital also acquired the rights to use the Television City trademark.  The deal is expected to close by early 2019 on the historic property.

So what does this mean for your CBS soaps? Well, they aren’t losing their digs for quite some time!

According to the Hollywood Reporter, “CBS said that a handful of programs that film at Television City, including The Late Late Show With James Corden, The Young and the Restless, The Bold and the Beautiful and The Price Is Right, will continue being produced on the property for at least the next five years.”

In a statement Joseph Ianniello, president and acting CEO of CBS Corporation 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. At the same time, we will be transitioning this venerable site to a new owner who is committed to its legacy as both a cultural landmark and modern production facility. Hackman Capital has demonstrated terrific stewardship of classic properties, including their development of the landmark Culver Studios.”

So what do you think of the CBS selling TV City? Share your thoughts via the comment section below.

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Joe
Joe

After five years, then what? They’ll either move the shows to a new location, or cancel them. I guess we’ll just have to wait and see.

Tony
Tony

Cancel B&B, same repeated storylines. Bring back As The World Turns.

Momo
Momo

I don’t understand the reasoning behind doing it. The shows have to film somewhere.

Barbara from Atlanta
Barbara from Atlanta

I don’t live in Los Angeles but, having visited, I think I understand it. Television City seems to be in a prime real estate location in the middle of town. Nearby is the Farmer’s Market and an upscale retail/entertainment complex called the Grove. I think real estate in Los Angeles is unusually expensive and, given the size of Television City and it being in a desirable part of Los Angeles, the prospect of purchasing the lot surely would interest a developer.

There really is no reason that a television studio would need to be sited on such valuable property: Would the viewers really care if a show was filmed there or in a studio located on relatively less expensive property (say as in Pasadena)? Heck, if there was consistency in the sets, the viewers wouldn’t even notice. (I sure didn’t notice a visual difference when ATWT quit filming in the middle of Manhattan and moved to a studio in Brooklyn).

In addition to Y&R and B&B, I’m guessing that The Price is Right, The Late Late Show, and The Talk are all filmed in Television City. I’m not optimistic about the future of daytime serials but the mere selling of this property doesn’t automatically suggest to me that CBS will ax Y&R and B&Ba at the end of the 5-year post-sale period. (However, it certainly is plausible that the cost of moving the production of these shows might weight into that decision — especially if the ratings continue to dwindle).

Steve Ward
Steve Ward

The soaps, Price is Right, Dancing with the Stars (an ABC show) all lease space from CBS. CBS does not give them the studio just because the show airs on CBS. When each show’s contract is up, the shows will decide whether to stay at TV City or move to another studio such as Burbank where Days is taped. NBC sold its Burbank studios years ago. It, too, is owned by a Real Estate conglomerate. CBS needs the money for use elsewhere. CBS has Studio City where it’s local TV stations are located and other production facilities. This change will not affect Y&R or B&B.

Steve
Steve

I wouldn’t worry too much about the shows being impacted. Even after 5 years, development is likely to occur on the parking lot and back area that houses prep facilities.

Although it owned by CBS, Television City is also the home non-CBS shows like Dancing with the Stars and American Idol.

Breaking News

Matt Cohen Exits General Hospital

Dr. Griffin Munro, the former priest, is departing General Hospital as actor Matt Cohen made the decision to wrap his run on the ABC daytime drama series.

Cohen told TV Insider on his decision, “I did three years at the show. It was a great time and I had great fun playing the character, but I’m a guy who gets uncomfortable when he gets comfortable. I need to give Griffin a little rest right now. I talked to Frank (Valentini, executive producer). We’re leaving it very open-ended.”

The actor is now also focusing on directing and his first short film Mama Bear has been getting a solid response at film festivals

As to if he would return to his role as Griffin ever again, Matt teased: “Maybe I’ll pop into GH every once in a while? That’ll be up to Frank and the writers as to what we do.”

Matt came on to General Hospital back in 2016 and viewers learned that he was the son of Duke Lavery (Ian Buchanan), and was put in the orbit and became dear friend of Anna Devane (Finola Hughes), Duke’s true love.  Later, Griffin became romantically involved with Ava Jerome (Maura West) and then her daughter, Kiki (Hayley Erin).

Look for Cohen to exit this Friday on the March 22nd episode of GH.

So, sad to know Matt is leaving GH? Share your thoughts via the comment section below

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Y&R’s Melody Thomas Scott’s CBS Watch! Photo Shoot And Cover Story

As part of Melody Thomas Scott’s 40 year celebration as Nikki Newman on The Young and the Restless, CBS Watch! Magazine has Melody as the cover gal on their latest issues on sale now.

Thomas Scott is one of three actors appearing on individual covers of WATCH! The other covers feature Nina Dobrev, and the newest Spock, Ethan Peck from Star Trek: Discovery

According to CBS Watch!: ‘To toast and document the momentous occasion, Watch! teamed up with photographer Andrew Eccles and stylist Christina Pacelli for the ultimate cover photo shoot. The gorgeous results are fit for a queen.  Don’t miss our March-April 2019 issue featuring Melody Thomas Scott, on newsstands now!”

Thomas Scott is one of three actors appearing on individual covers of WATCH! The other covers feature Nina Dobrev, and the newest Spock, Ethan Peck from Star Trek: Discovery

Check out the photo gallery of the many looks of Melody here.

Within the article, Melody explains how Nikki informed her own life revealing:  ”She’s taught me humility.  Sometimes if I go out shopping and I see a woman behaving like Nikki, I will recognize that immediately and I think, ‘Thank God I’m not really like that.’”  She also added in a joking manner, that Nikki’s “not anybody I would want to be friends with. I wouldn’t trust her for anything.”

Which is your favorite look of Melody’s in her Watch! Photo Gallery? What do you think about the publication available digitally or in print putting this soap icon on one of their covers? Comment below.

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Breaking News

LISTEN NOW: Soap Nation Live! with Michael Fairman Daytime Emmy Nominations Special 2019

Tonight on Soap Nation Live! with Michael Fairman,we celebrate the just announced 46th Annual Daytime Emmy Nominations with our sixth annual broadcast.

Join Michael and his in-studio co-host Days of our Lives‘ Arianne Zucker (Nicole) for our 90 minute plus Daytime Emmy Nominations spectacular as we chat it up with some of the actors who will be going for gold on Emmy night on Sunday, May 5th.

Arianne and Michael will be joined by NATAS Senior VP Daytime Emmy Awards, David Michaels who will be on hand to offer commentary on the Emmy voting and more.

Listen in as we welcome nominees: Tyler Christopher, Peter Bergman, Beth Maitland, Marci Miller, Maura West, Laura Wright, Chloe Lanier, Billy Flynn, Brytin James, Eric Martsolf, Martha Madison and many more!

Make sure to also listen for our Daytime Emmy trivia game show segment, when two callesr can win a pair of VIP tickets to the upcoming Coastal Entertainment,”Teals Got Talent”; the upcoming GH Fantasy Event, this time in Philadelphia on May 4th to benefit the Sandy Rollman Ovarian Cancer Foundation,

To call-in and share your thoughts on the nominations of who got in, and who was snubbed and more, or to pose a question or a comment to any of our guests, dial the exclusive listener-line at 818-295-2130

This special live-stream begins at 7PMPST/10PMEST.  You can also head on over to Soap Nation’s Live official show page at Spreaker.com  if you have any trouble listening to the show here.

If you are tuning in shortly before 7PMPST, you will hear some musical interludes before we go live for showtime.  We hope you enjoy the show.

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GH icon Genie Francis chats with Michael Fairman about her return to the soap as Laura after being taken off-contract earlier this year. Leave A Comment

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