Netflix, Inc. (NASDAQ: NFLX) and Hudson Pacific Properties, Inc. (NYSE: HPP) struck a 10-year multi-stage deal. As a result, the streaming video service would lease stages and production offices at Sunset Bronson Studios.
The news comes amid some bearish sentiments on Netflix shares though the trend presents a different picture. The stock managed a gain of 1.13 percent in September and added another 2.96 percent in the current month.
The streaming video service firm has already started shooting "Girl Boss" at Sunset Bronson Studios. The deal allows the company its stage and production teams nearer to its headquarters.
Hudson indicated that the complete 323,000 square foot ICON officer tower, which is under construction currently, would be occupied by Netflix early next year.
The company's chairman and CEO, Victor Coleman, commented, "This deal also fulfills Hudson Pacific's vision of bringing a major content producer to Hollywood, and highlights the changing nature of the studio business. Hudson Pacific is uniquely positioned to provide today's leading entertainment and technology companies with cutting-edge creative office and digital production facilities."
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