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Article: Overseas demand fuels growth for L.A. motion picture industry. (Los Angeles-based motion picture studios plan facility expansion)(Economic Outlook 1997)(Industry Overview)
- Article from:
- Los Angeles Business Journal
- Article date:
- December 30, 1996
- Author:
CopyrightCOPYRIGHT 1996 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Motion picture executives say that cutting the number of major releases will be a high priority next year. And yet, here in Los Angeles, they are expanding their studio facilities as fast as they can.
A shortage of production space has prompted Wait Disney Co. and Warner Bros. in Burbank, as well as Universal Studios Inc. in Universal City, to seek approval for huge expansion projects. The first two already have started construction, while Universal is waiting for the go-ahead from local officials.
Meanwhile, Roy Disney-owned Shamrock Holdings, based in Burbank, announced in November that it would build a $77 million production facility on 22 acres in ...