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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.”

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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

DAYS, GH and Y&R Receive WGA Award Nominations For A Daytime Drama

Three of the four network soaps received nominations in the category of Daytime Drama for the upcoming 72nd annual Writers Guild Awards.  Nominations in television categories were announced on Thursday.

The annual scribe-fest is based on voting by 15,000 WGA members, and awards will be handed out in coinciding ceremonies in Los Angeles at the Beverly Hilton and in New York at the Edison Ballroom on February 1st, 2020.

The eligibility are shows within the 2019 calendar year.

The nominated writing teams competing in the Daytime Drama category are as follows:

Days of Our Lives, Writers: Lorraine Broderick, Ron Carlivati, Joanna Cohen, Carolyn Culliton, Richard Culliton, Rick Draughon, Dave Kreizman, Rebecca McCarty, Ryan Quan, Dave Ryan, Betsy Snyder, Katie Schock; NBC Universal

General Hospital, Head Writers: Shelly Altman, Christopher Van Etten Associate Head Writers: Anna T. Cascio, Dan O’Connor Writers: Barbara Bloom, Suzanne Flynn, Charlotte Gibson, Lucky Gold, Kate Hall, Elizabeth Korte, Donny Sheldon, Scott Sickles; ABC

The Young and the Restless, Writers:  Amanda L. Beall, Jeff Beldner, Sara Bibel, Matt Clifford, Annie Compton, Christopher Dunn, Sara Endsley, Janice Ferri Esser, Mellinda Hensley, Lynn Martin, Anne Schoettle, Natalie Minardi Slater, Teresa Zimmerman CBS

So, which soap do you think should receive the WGA Award for the best writing on a daytime drama series in 2019? Share your picks in the comment section below.

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Justin Hartley Files For Divorce From Chrishell Stause

In shocking news to so many, This Is Us star Justin Hartley (Kevin Pearson) has filed for divorce after two years of marriage from former Days of our Lives’and Selling Sunset star Chrishell Stause (Jordan Ridgeway).

According to court documents on Friday via TMZ, Justin is citing irreconcilable differences as the cause of the split.

The date of their separation is listed as July 8, 2019, which has perplexed those in the media when the pair have been seen together in recent months at Hollywood events and sharing posts of one another on their social media accounts.

Justin and Chrishell were last seen together in public last week on November 14th at a Hollywood Reporter-sponsored pre-Golden Globes party.  Reps for both actors have you to share statements or make a comment.

Hartley and Stause tied the knot in an intimate ceremony at Malibu’s Calamigos Ranch back in October 28th, 201, which was four years to the day after they met.

As daytime fans know, Justin and Chrishell met when they were both part of the soap opera community.  Justin was last on daytime as Adam Newman on The Young and the Restless.  Hartley has one child, Isabella, from a previous marriage to another soap actress, Lindsay Korman, who he met when they both were on the defunct NBC soap Passions. Justin and Lindsay were married for 8 years.

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We will update you as they warrant in this developing story.  And on personal note: we wish nothing but the best for both Justin and Chrishell.

Share your thoughts on the news of Justin’s divorce filing via the comment section below.

 

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Holiday Joy! Jane Elliot Returns To General Hospital As Tracy Quartermaine

Fantastic news General Hospital fans! Daytime Emmy winner and longtime fan favorite, Jane Elliot is reprising her signature soap role as Tracy Quartermaine just in time for the holidays.

According to EW.com who broke the news, Eliot will make her appearances beginning in December, when Tracy comes home to Port Charles, and is embroiled in the ELQ family business.

Elliot’s last episode on GH aired May 4, 2017 when Jane made the decision to  to exit.

Her character left Port Charles by telling her family she was ready to have her own life, away from the shadow of her father. A later episode revealed that Tracy settled in Amsterdam after meeting up with Luke (Tony Geary).

Jane began playing the role of Tracy back in 1978.

So excited to hear Tracy Q will be home for a visit and to stir up some trouble? Comment below.

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