Disney’s departure from the historic Fox Studio Lot in Century City marks a significant shift in the entertainment industry landscape. After acquiring most of Rupert Murdoch’s 21st Century Fox’s entertainment assets for $71.3 billion in 2019, Disney has been the primary occupant of the Fox lot. However, the deal did not include ownership of the studio real estate, leading to a provision that allowed Disney to lease the space for at least seven years. With Disney’s lease set to expire next March, the company has announced its decision not to renew and plans to vacate the premises by the end of the year.
This move has implications not only for Disney but also for Fox Corp, the owner of the Century City lot. As Disney’s largest tenant, their departure puts pressure on Fox to find new occupants for the soundstages and office spaces that have been integral to the production of iconic movies and television shows for generations. From classics like “Miracle on 34th Street” to modern hits like “The Simpsons,” the Fox lot has been a hub of creativity and innovation in the entertainment industry.
A Legacy in Transition
The Fox Studio Lot has a rich history that dates back over a century. Studio founder William Fox purchased 99 acres of land between Santa Monica Boulevard and Pico Boulevard in 1921, establishing a foundation for what would become a legendary entertainment hub. Over the years, the lot has been home to some of Hollywood’s most iconic stars, from Shirley Temple to Marilyn Monroe. With its prime location and state-of-the-art facilities, the Fox lot has been a cornerstone of the industry, attracting top talent and productions from around the world.
The Future of Entertainment
As Disney prepares to move its operations to Burbank, where it has its own historic studio lot, the landscape of entertainment production is evolving. With a focus on creating a centralized hub for its television groups, Disney is looking to streamline its operations and leverage its resources more effectively. The relocation of teams from the Fox lot to Burbank represents a strategic shift in Disney’s approach to content creation and distribution.
While Disney’s departure may signal the end of an era for the Fox lot, Fox Corp remains committed to its ambitious plans for expansion in Century City. With a $1.5 billion project in the works to add more than 2 million square feet of building space, including multiple soundstages and postproduction facilities, Fox is positioning itself for the future of entertainment. Despite the challenges posed by the COVID-19 pandemic and shifts in production trends, Fox is optimistic about the opportunities that lie ahead.
As the entertainment industry continues to evolve, the legacy of the Fox Studio Lot and the impact of Disney’s departure will be felt for years to come. From the golden age of Hollywood to the era of streaming services, the Fox lot has been a symbol of creativity, innovation, and resilience in the face of change. As new chapters unfold in the story of Century City, one thing is certain: the spirit of entertainment will endure, no matter where the journey takes us.
