According to a Jan. 3 SEC filing by developer Thomas Properties Group, NBCUniversal won’t be moving forward with plans to build a 1.5 million-square-foot production and office project across from Universal Studios.
The project, originaly announced in 2007, was going to be called MetroStudios@Lankershim. It was estimated to cost $750 million.
Pulling out of the deal cost NBCUniversal a $9 million fee, that it had to pay the developer as part of the termination agreement.
On Wednesday, NBCU anounced it will build a 150,000-square-foot broadcast center on the Universal Studios lot that will house KNBC-4 and KVEA-52, as well as the LA bureaus of NBC News and Telemundo.
According to the Hollywood Reporter, the property will include newsroom facilities, production studios and a content distribution center, scheduled to be completed in late 2013.