Quixote Studios Exiting Atlanta, Deploying Assets To New York & L.A.
Deadline • • general
Key Points:
- Quixote Studios is winding down operations in Atlanta and exiting most leased sound stage facilities in Los Angeles, resulting in about 70 job cuts across both locations over the coming quarters.
- The parent company, Hudson Pacific, aims to achieve up to $27 million in annual cost savings by streamlining Quixote’s business and focusing on higher-performing segments.
- Despite these changes, Quixote’s equipment rental services will continue in New York and Los Angeles, and Hudson Pacific’s owned Sunset Studios portfolio remains highly leased and unaffected.
- Hudson Pacific plans to shift resources away from leased sound stages and markets with structural cost or demand challenges to concentrate on its office portfolio and more profitable studio assets.
- The company expects to report these cost savings starting in the second half of the year and will provide updates during its Q2 earnings call on May 7.
