As a result of increased demand for film and television content, nine new sound stages, updated production facilities and a 24-story media campus are projected as part of a $1.5 billion expansion of Fox Studios in Century City, it was announced this week.
Nearly 100 years since filming began on the lot, the new Fox Corporation is seeking to create a “studio of the future” that could generate nearly 8,800 jobs in Los Angeles County, the company said.
“The Fox Studio Lot is one of the most iconic and treasured production locations in the history of entertainment and is a rich part of our history,” Lachlan Murdoch, executive chair and CEO of Fox Corp., said in a press release. “The Fox Future project represents a long-term commitment to our industry, to our community and to the city of Los Angeles.”
Calling the project “a historic investment in support of both the entertainment industry and Los Angeles’ Century City business community,” Fox said plans include new multi-media sound stages as well as post-production facilities, and media campus offices on the lot along Olympic Boulevard “to respond to changing technologies and increased demand” in film and television production.
The project — which is at the start of the county’s approval process — would also create new office space in Century City with a green-certified office building along Avenue of the Stars, according to Fox.
The corporation said it hopes to maintain thousands of existing jobs by helping to curb runaway production and create new work opportunities throughout the region. Fox estimates that the expansion would generate about $9 million in annual tax revenue to the city of Los Angeles to help fund public services such as libraries, parks, police and fire services.
The entertainment corporation also said it predicts over $20 million in anticipated Transportation Improvement and Mitigation Fees which focus on West Los Angeles-specific improvements and support the…
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