Disney intends to consolidate its operations in a creative hub in its corporate home of Burbank.
They will now join the relocation to Burbank by the end of the year.
It also has a pedigree, having housed productions over the decades likeThe Sound of MusicandMiracle on 34th Street.
The Fox Studios lot in West Los AngelesGetty Images
The streaming boom initially led to a steep rise in production across the city and elsewhere.
The dramatically stepped-up incentives, promoted in recent months by Gov.
Gavin Newsom, would be the first positive development in years for tempest-tossed production crews in Southern California.
Steep financial cuts have also reshaped the media industry during this time.
Since William Fox started Fox Film Corp. in 1915, the West L.A. studio lot has regularly undergone transformation.
