Overview
- Hudson Pacific said Tuesday it will start a phased wind‑down of Quixote’s leased soundstages and close its Atlanta production services business to shrink losses.
- The company projects $21 million to $27 million in annualized cost savings, with benefits expected to begin in the second half of 2026.
- Roughly 70 jobs will be cut across Atlanta and Los Angeles, according to trade reports, as equipment moves to New York and Los Angeles where rentals will continue.
- In Los Angeles, Quixote will relinquish leases at its West Hollywood site and Central Valley in Van Nuys, while keeping Griffith Park Studios due to an ongoing tenant.
- Sunset Studios stays untouched with Hollywood stages 96% leased and new Manhattan stages fully leased, a contrast to Quixote’s leased stages at about 53% occupancy, as the retrenchment follows a wider production slowdown and a write‑down of HPP’s $360 million Quixote deal.