Independent Film and TV Studio North Road Sold to French Media Company Mediawan for $700M-$1B

Hollywood is experiencing a real estate crash with billions invested in sound stages during the streaming boom. Goldman Sachs is taking over a historic Los Angeles studio lot after its owner defaulted on a mortgage. Independent producers are also affected by the Hollywood recession. Media mogul Peter Chernin is selling North Road, a company that produces hit Netflix shows and films, to the French media company Mediawan for $700 million to $1 billion. The consolidation in Hollywood is unprecedented in modern history.