Hackman Signs PLA for Modernization of Radford Studio Center

Hackman Capital Partners founder Michael Hackman joined Los Angeles Mayor Karen Bass and union representatives to sign a Project Labor Agreement (PLA) for the Radford Studio Center Plan, which involves the modernization and expansion of production facilities within Radford Studio Center. The nearly century-old studio located in Studio City is owned and operated by HCP, the world’s largest independent owner and operator of sound stages. 

This is HCP’s second PLA in as many years, following a separate agreement at Television City in 2023. Combined, the two agreements reportedly represent one of the largest private sector commitments to union labor in Los Angeles history.  

“We are committed to investing in the future of our city’s existing studio facilities and building state-of-the-art soundstages here in LA,” said Hackman. “This goal drives our modernization projects at both Television City and Radford Studio Center. We know that if we make these investments, productions and good paying production jobs will stay in Los Angeles.”

A recent Deloitte study found that although the Los Angeles area has more sound stages than anywhere else in the world, studios are operating close to 100% capacity and waitlists for those spaces can be five film productions deep.  The study determined that sound stage supply would need to more than double to meet demand, and proposed development projects fall short of meeting that need.