The massive deal comes as studio space is at a premium around Los Angeles. Streaming services have been fueling the boom in television production — last year, more than 450 scripted shows were produced, a phenomenon that some in the industry call “peak TV.”
Last week, Disney unveiled its plans for a streaming service called Disney+ and said it would spend more than $1 billion in fiscal 2020 to create original programming for the platform. Warner Bros.’ parent company, WarnerMedia, plans its own streaming service to showcase HBO and Warner Bros. television shows and movies.
Source: Warner Bros. plans to buy Burbank Studios and occupy new Frank Gehry ‘iceberg’ towers – Los Angeles Times