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Silvercup Studios sells to Hackman Capital and Square Mile Capital

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The joint venture also owns The Culver Studios in downtown Culver City, Calif., home to Amazon Studios, The Culver Steps, a newly built building also home to Amazon Studios, Television City Studios, the former CBS broadcasting facility in West Hollywood, Manhattan Beach Studios, a 22-acre studio production facility in Manhattan Beach, Calif., Second Line Stages in Louisiana, and The MBS Group, the studio operation and provider of production. Michael Hack

Hackman Capital Partners and Square Mile Capital have purchased Silvercup Studios, the highly-regarded independent film and television studio in New York City, for an undetermined price from the brothers Stuart and Alan Suna.

The acquisition, which includes the operating component and equipment of the property, was announced on Wednesday night. It is the seventy-seventh acquisition by the media platform of the joint venture.

Founded in 1983 on the site of the Silvercup Bakery, the studio has three campuses in Long Island City and the Bronx, with 23 sound stages totalling over 240,000 square feet of offices and 265,000 square feet of production support area.

The Silvercup studios are the Main Lot and East Lot in Long Island City and Silvercup North in the Bronx. The company has stated that each has a full slate of current productions including HBO’s “Succession” and FX’s “Pose”. Silvercup was the production on the premiere of “Sex and the City”, “The Sopranos” and “30 Rock”.

On September 25th, the Wall Street Journal reported that the transaction was worth $500 million.

Alan Suna, who will continue as chairman of Silvercup Studios, said: « In 1983 my father Harry, brother Stuart and I began on this journey to make Silvercup Studios one of New York’s leading studios. After 37 years, we sought the right partner to continue to grow the studio business and develop it as the industry continues to prosper in New York City. After careful consideration, we have chosen the Hackman Capital Partners/Square Mile Capital Platform, including the MBS Group, because their leadership embodies the values we cherish, including the dedication team that helped us achieve so much success.

The joint venture also owns The Culver Studios in downtown Culver City, Calif., home to Amazon Studios; The Culver Steps, a newly-built building also home to Amazon Studios ; Television City Studios, the former CBS broadcasting facility in West Hollywood ; Manhattan Beach Studios, a 22-acre, state-of-the-art studio production facility in Manhattan Beach, Calif. ; Second Line Stages in Louisiana ; and The MBS Group, the studio operations company and supplier of production

As the leading independent owner and operator of studio properties, Michael Hackman said, « we are beyond delighted to add the iconic Silvercup Studios to our portfolio of outstanding studio and media assets. We look forward to working closely with Silvercup’s founders as well as leverage The MBS Group’s global platform to continue to offer a full suite of studio operations and additional services in New York to the world’s leading content creators.

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