Quixote Studios Lays Off 70, Winds Down L.A. Locations
Variety • • entertainment
Key Points:
- Quixote Studios is closing its Atlanta production services and winding down its Los Angeles soundstage business, resulting in about 70 layoffs due to a production downturn.
- Hudson Pacific Properties, which acquired Quixote for $360 million in 2022, has written down the entire value of the unit because of significant operating losses.
- The company will relinquish lower-occupancy Quixote soundstages in Pacoima, Panorama City, and West Hollywood but retain the Atwater Village location, aiming to save $21-$27 million annually.
- Hudson Pacific is refocusing its production services on stronger markets like Los Angeles and New York, citing better tax incentives and production flow compared to second-tier hubs such as Atlanta and Albuquerque.
- Other Hudson Pacific assets, including the Sunset Studios soundstages leased to Netflix and office towers on Sunset Boulevard, remain unaffected by these changes.
