Videoage International August-September 2020

8 World Aug/Sept. 2020 V I D E O A G E (Continued from Page 6) Monica Boulevard and North Highland Avenue, also in Holly- wood. Blackstone Group has in- vested $1.65 billion for shares in the three facilities (which HPP will continue managing). It is expected that demand for film studios will continue to increase while supply is limited due to the rise of streaming services. Speculators Now Target NBCUniversal V iacom-CBS came first, and now it’s Comcast- NBCUniversal’s turn. This is either a case of history repeating itself or simply Wall Street showing its speculative nature. Many remember when, in 2005, Wall Street pushed Viacom to spin off its CBS di- vision because it was thought that they would be valued more as separate entities. Well, it turned out that that strategy didn’t work, and so, in 2019, Viacom recombined with CBS. Now, New York City-based research company Alliance Bernstein is suggesting that Comcast should spin off its NBCUniversal (which include U.S. studios and TV networks), as well as its U.K.-based Sky Group (which encompasses satellite TV services in Austria, Germany, Switzerland, Ireland, the U.K., Italy, and Spain). Peter Supino, an analyst at Alliance Bernstein, upgraded his rating on Comcast’s stock to “outperform” and raised his price target by $4 to $52. “Our view,” reported Supino, “is that Comcast’s stock is demonstrably undervalued, and the pendulum of investor confidence now under-appre- ciates Comcast’s strategic intel- ligence and commitment to long-term value creation.” In the past, other Wall Street analysts had criticized Comcast’s 2018 acquisition of the Sky Group for $48 billion, but Bernstein’s Supino feels that, “Sky, for which Comcast paid a stunning premium, fell badly short of expectations even before COVID-19 ravaged it.” H ollywood’s studio facilities are becoming hot commodities and Wall Street has taken notice. New York City- based investor Blackstone Group has taken particular notice, investing in three facilities — Sunset Gower, Sunset Bronson, and Sunset Las Palmas — through a 49 percent stake in their owner, Los Angeles-based Hudson Pacific Proprieties (HPP). Sunset Gower (pictured at right) is a 56,656-square-meter TV and film studio at the corner of Sunset Boulevard and Gower Street in Hollywood, California. Established in 1912, it is Hollywood’s largest independent studio. Sunset Bronson was once called the Old Warner Brothers Studio because it used to be part of WB’s original studio lot. Today, it is officially called Sunset Bronson Studios, and is located on Sunset Boulevard and North Van Ness Avenue. Sunset Las Palmas is located on North Las Palmas Avenue between Santa Wall Street Studies Hollywood Recognized standard of quality in AudioDescription With more than 20,000 television shows, feature films and LIVE shows completed, you can rely on us to deliver your project on budget and on time. Our technical expertise guarantees a top quality product, a commitment we’ve made to our clients for more than 14 years. Request a Quote info@descriptivevideoworks.com descriptivevideoworks.com Descriptive VideoWorks is committed to providing access to all forms of visual media