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Netflix wants to own the stage
Netflix is reportedly circling Radford Studio Center, the Los Angeles lot that lenders led by Goldman Sachs repossessed after the prior owner defaulted. Translation: while everyone else is fighting over scraps, Netflix is shopping in the distressed-assets aisle.
Why this matters for your stock
The big idea here isn’t just “Netflix bought a building.” It’s that the company keeps leaning into owning production infrastructure as the streaming wars settle into a more grown-up phase. If you control more of the plumbing, you’re less exposed to rising rents, tighter supply, and the chaos that comes with relying on leased space.
Cheap now, strategic later
The reported price could be less than one-third of the lot’s $1.85 billion 2021 valuation, which is basically the real estate version of buying the fancy jacket on clearance after the trend has already died. But for Netflix, that’s the point: weak studio real estate, less production after the strikes, and a cash balance north of $12 billion make this a very Netflix-ish move.
Big picture
This isn’t a done deal yet, but it fits the company’s broader playbook: spend cash where it gives you more control, more optionality, and fewer surprises. In streaming, owning the stage can matter almost as much as owning the show.