Goldman

Netflix Inc. is under contract to buy Radford Studio Center, a historic Los Angeles movie studio space, for a fraction of its 2021 $1.85-billion sale price after lenders including Goldman Sachs Group Inc. repossessed the property.

The price is close to $400 million, according to two people with knowledge of the transaction, which is expected to close in the third quarter.

The Times reported in April that Netflix had plans to buy the studio property.

The one-time silent movie lot has been home to many popular TV series over the decades, including “Gunsmoke,” “Gilligan’s Island” and “Seinfeld.”

Netflix wants to consolidate its real estate footprint in one place and has been considering relocating from a group of Hollywood buildings it leases from Hudson Pacific Properties Inc. The Hudson Pacific leases expire in 2031.

Radford’s current owner, Hackman Capital Partners, defaulted on $1.1 billion of bondholder debt and turned the property over to lenders led by Goldman after it was unable to reach a refinancing deal last year. The sale will wipe out close to two-thirds of the debt.

The value of Los Angeles studio real estate has tumbled since interest rates climbed and production plummeted following strikes in 2023 by unions representing writers and actors. Landlords unaffiliated with studios, such as Hackman, have been hit particularly hard as production moved to space owned by the entertainment giants. Occupancy of L.A. soundstages fell to 62% in the first half of last year, according to FilmLA, a local permitting group.

Representatives of Goldman and Netflix declined to comment. A Hackman representative didn’t immediately provide a comment.

Netflix, which has historically leased rather than owned real estate, has stepped up investing in studio lots. It’s currently developing a $1-billion production center in Fort Monmouth, N.J. The streaming service reported $12.3 billion in cash and equivalents in its most recent quarter. Netflix was paid a $2.8-billion breakup fee by Paramount Skydance Corp., which won a bidding war for Warner Bros. Discovery Inc.

Before the recent slowdown, Hackman went on a buying spree of movie lots, banking on ever-growing demand for streaming TV production. In March, Deutsche Bank AG sued Hackman to foreclose on its Kaufman Astoria Studios in New York. Hackman-owned Television City in Los Angeles and Manhattan Beach Studios in nearby Manhattan Beach are both being marketed after lenders led by Deutsche Bank pushed for the sale, Bloomberg reported in May.

Brokerage Cushman & Wakefield Ltd. is selling the $240-million loan on the 22-acre Manhattan Beach property, which it describes in a marketing document as “one of the most strategically positioned opportunities in coastal Los Angeles, combining an institutional-quality operating asset with some of the most irreplaceable underlying land in the South Bay.”

The Radford Studio lot was only 71% leased as of March, according to mortgage filings.

Gittelsohn writes for Bloomberg.

NEW YORK — A federal immigration court in Lower Manhattan has come to represent the Trump administration’s deportation campaign in New York City, with agents carrying out chaotic and sometimes violent arrests in the hallway as migrants leave hearings.

Now the court is serving as a front in a different kind of battle: one of the city’s most closely watched congressional races.

In the Democratic primary between incumbent U.S. Rep. Dan Goldman and former city Comptroller Brad Lander — for a district so solidly blue that the June primary is considered its deciding election — both candidates have made the Trump administration’s treatment of migrants at 26 Federal Plaza a feature of their campaigns, but with decidedly different approaches.

Goldman — an heir to the Levi Strauss denim fortune and former prosecutor who was lead counsel for President Trump’s first impeachment — has approached the topic with a lawyerly bent that leverages the power of his office.

He sued the administration to open immigration detention centers to members of Congress, conducts oversight visits and turned his office across the street into what he’s called a triage center that connects immigrants with advocacy groups and legal services that has, his campaign said, helped more than 30 people get released from federal custody.

After a recent visit, Goldman credited his oversight work as a reason conditions at a holding facility inside the building have improved.

“What you see from our multipronged approach is the way that I push back, which is not performative, but it is substantive,” he told the Associated Press outside 26 Federal Plaza after he toured the detention center that is closed to the public.

Meanwhile, Lander — a progressive city government stalwart who is running with the support of Mayor Zohran Mamdani — has acted as protester and court observer, watching hearings and attempting to accompany immigrants out of the building past masked federal agents.

His efforts have gotten him arrested twice, with the most recent case headed to a trial scheduled to take place just before the primary.

“I would characterize his oversight function as strongly worded letters,” Lander told AP when asked about Goldman’s approach. “And my oversight function is: Show up with hundreds of your neighbors and bear witness and accompany people and demand access and stay until they give it to you or they arrest you.”

Lander’s first arrest happened last year when he linked arms with a person authorities were attempting to detain in the hallway outside the court. Lander was running for mayor at the time, and the arrest gave his campaign a jolt of excitement at a time when Mamdani and former Gov. Andrew Cuomo were considered the front-runners in the race.

A few months later, after losing the mayoral primary but not long before launching his congressional campaign, Lander was arrested again during a large protest at the building and hit with a misdemeanor obstruction charge.

But instead of accepting a deal that would have made the case go away in six months, Lander instead opted to go to trial. He said the case would extract information about the federal government’s immigration enforcement efforts at the building during a tense period that predates Goldman’s oversight visits.

Goldman dismissed Lander’s efforts as performative.

“I don’t understand why someone would reject a dismissal of a case so that he can have a public trial, ostensibly to ask for information that I could provide him whenever he wanted because I have the answers from doing my oversight,” he said.

This week, Lander returned to 26 Federal Plaza to sit in on hearings. But just before entering the building, his team got word that federal agents were lingering outside an immigration hearing at a different federal courtroom in a building across the street. He raced over and eventually found the agents, who were wearing masks and milling around in the court’s waiting room.

“The challenge is trying to figure out who they’re going to arrest,” Lander said, popping out of the hearing, where he sat in a back row and took notes. After a while, the agents walked away from the hearing room, down a hallway and exited the floor. It was not clear why they left.

“Maybe we have different styles,” Lander said of his opponent after the agents departed. He later went back across the street and filmed a campaign video in front of 26 Federal Plaza.

Izaguirre writes for the Associated Press.

First all-women cohort of winners hails from Colombia, Nigeria, Papua New Guinea, South Korea, the UK and the US.

This year’s prestigious Goldman Environmental Prize has been awarded to six grassroots environmental activists from around the world for their efforts to fight climate change and save biodiversity.

For the first time since the prize was created in 1989 by philanthropists Richard and Rhoda Goldman, all recipients of the award are women: Iroro Tanshi, from Nigeria; Borim Kim, from South Korea; Sarah Finch, from the United Kingdom; Theonila Roka Matbob, from Papua New Guinea; Alannah Acaq Hurley, from the United States; and Yuvelis Morales Blanco, from Colombia.

Sometimes described as the “Green Nobel”, the Goldman Prize recipients are chosen from each of the world’s six primary regions. They each receive $200,000 in prize money.

“While we continue to fight uphill to protect the environment and implement lifesaving climate policies – in the US and globally – it is clear that true leaders can be found all around us,” said John Goldman, vice president of the Goldman Environmental Foundation.

“The 2026 Prize winners are proof positive that courage, hard work, and hope go a long way toward creating meaningful progress.”

Morales Blanco, the winner for the region of South and Central America, fought some of the world’s biggest oil companies to successfully stop the introduction of commercial fracking into Colombia.

The 24-year-old grew up in a family of fishermen along the banks of the Magdalena River in the Afro-Colombian community of Puerto Wilches. “We had nothing but the river – she was like a mother who took care of me,” she said.

She began organising protests after a major oil spill in 2018, which forced the relocation of dozens of local families and killed thousands of animals. Her activism, which made her a target for intimidation and forced her to temporarily relocate, helped halt projects and elevate fracking as an issue in Colombia’s 2022 election.

Two of the other five recipients of this year’s prize have also focused their efforts on fighting fossil fuels, which are causing both global climate change and more localised pollution around the world.

Borim, the winner for Asia who started the Youth 4 Climate Action organisation, won a ruling from South Korea’s Constitutional Court that the government’s climate policy violated the constitutional rights of future generations, the first successful youth-led climate litigation in the continent.

Finch, Europe’s winner, told The Times newspaper she will use her prize money to keep fighting fossil fuels.

Together with the Weald Action Group, she fought oil drilling in southeastern England for more than a decade, securing the “Finch ruling” from the Supreme Court in June 2024, stating that authorities must consider fossil fuels’ impacts on the global climate before granting permission to extract them.

Two other recipients have fought against the destructive environmental impact of mining projects.

Papua New Guinea’s Roka Matbob, winner for Islands and Island Nations, led a successful campaign that saw the world’s second-largest mining company, Rio Tinto, agree to address environmental and social devastation caused by its Panguna copper mine, 35 years after it was closed following an uprising.

And the award recipient for North America, Acaq Hurley, from the Yup’ik nation in the US, successfully fought alongside 15 tribal nations to stop a mega- copper and gold mining project that threatened ecosystems in Alaska’s Bristol Bay region, including the largest wild salmon runs in the world.

Meanwhile, Nigeria’s Tanshi, Africa’s winner, rediscovered the endangered short-tailed roundleaf bat and has been working to save its refuge, the Afi Mountain Wildlife Sanctuary, from human-induced wildfires.