After months of waiting, the deal that would have allowed Long Beach Studios to purchase a former Boeing production hangar for develoment into a state-of-the-art movie studio fell out of escrow over the weekend, according to Kelly Puente of the Press-Telegram.
In a February interview with the lbpost.com, Long Beach Studios CEO Jay Samit predicted that a major motion picture would be using the site for filming by the end of 2009. While the deadline for Long Beach Studios to file necessary paperwork on Friday came and went, Samit’s dream is not dead yet. His partner, Jack O’Halloran, says in the P-T article that the escrow deadline is a minor issue that will soon be resolved.
Puente quotes Boeing spokesman Glen Golightly, who confirms that Boeing has put the property back on the market but continues to work with Long Beach Studios to finalize paperwork.
By Ryan ZumMallen, Managing Editor