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Why Rupert Murdoch is keeping the Fox lot in Century City even as he sells to Disney

Why Rupert Murdoch is keeping the Fox lot in Century City even as he sells to Disney

Fox’s decision to hang onto its historic Century City studio lot even as it sold much of its assets to Disney in this week’s blockbuster $52.4-billion deal is a testament to the enduring value of the movie factories dreamed up a century ago by Hollywood pioneers.

Internet streaming services such as Netflix and Amazon are cranking out movies and television shows at an increasing pace, competing for sound stages with old-line studios and relatively younger players such as HBO and Showtime.

The location of the 2-million-square-foot lot on the Westside, where...

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