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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.

As The World Turns

ATWT and ‘Vampire Diaries’ Alum, Zach Roerig Arrested For DUI

Another actor has been arrested for a DUI, and this one happened over Memorial Day Weekend.

News out of TMZ is that former As the World Turns actor, Zach Roerig (Ex-Casey), who went to appear in CW’s Vampire Diaries was taken in by the cops.

According to the report: “Zach was busted Sunday around 2:30 AM in Montpelier, Ohio. Police tell us, officers noticed Zach’s pickup truck did not have a front license plate, so they pulled him over.”

Apparently when the officer went up to the driver’s side window they noticed that Zach’s slurred speech, bloodshot eyes and say he, “reeked of booze”.

Roerig was arrested for  for a misdemeanor and was held overnight in a holding cell.  He was later released.

Photo: JPI

Zach’s arraignment is set as of now for June 4th.

ATWT fans will remember Zach as part of the younger set in Oakdale comprised of: multi-Daytime Emmy winner Jennifer Landon (Ex-Gwen), Jesse Sofer (Ex-Will) and Alexandra Chando (Ex-Maddie), all who went on to primetime fame during their careers.

So, what do you think about the latest past or present soap star receiving a DUI? Remember Zach on ATWT? Comment below.

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Former Y&R Star, Emily O’Brien Set to Debut On Days of our Lives

You loved her as Jana Hawkes on The Young and the Restless, and now daytime soap fans will get to see actress Emily O’Brien again, when she premieres in her new role as Gwen on the NBC daytime drama, Days of our Lives.

According to Soap Opera Digest, O’Brien is set to hit our screens on the upcoming June 5th episode.

As fans of Y&R know, Emily played crazy Jana, who was involved with Kevin Fisher (Greg Rikaart) from 2006-2011, and there were many twists and turns in their dark romantic storyline.

In the current issue of SOD on newsstands now, DAYS head writer, Ron Carlivati had previewed that Gwen is introduced as Jake’s (Brandon Barash) ex-girlfriend.

So, excited to see Emily on DAYS? Comment below.

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‘Studio City’s’ Sean Kanan to Host Indie Series Awards Virtual Ceremony

Coming up, another award show will transition during the coronavirus pandemic to a virtual presentation when the 11th Annual Indie Series Awards reveals its winners in a ceremony w=on Thursday, June 18, starting at 9:00 p. m. EST.

This year, the host with the most will be Sean Kanan, known for his roles on General Hospital (Ex-AJ) and The Bold and the Beautiful and The Young and the Restless (Ex-Deacon), and this year for his Daytime Emmy-nominated work from his digital series, Studio City,

“I am honored and excited to be a part of the digital community and ISA family,” added Kanan. “This is the future of entertainment.”

Since 2oo9, the ISAs have honored some of the best of independent web series.

Tickets are said to be going on sale, so you can watch the virtual ceremony beginning at home starting on June 1st.

For more on the Indie Series Awards visit their site here.

So, will you be checking out Sean and the Indie Series Awards next month? Comment below.

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