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(EMAILWIRE.COM, August 16, 2007 ) HOLLYWOOD, CA – GI Partners, the Menlo Park-based private equity fund, has sold Sunset Gower Studios to Hudson Capital. GI Partners purchased the studio, which was formerly home to Columbia Pictures for 50 years, in 2004 and proceeded with a studio makeover including the construction of the first new office building in Hollywood in over 15 years.GI Partners partnered with Bob Papazian, who served as CEO of the studio, to transform the lot into a modern full-service independent studio. Mr. Papazian, an Emmy-award winning film and television producer, previously built Ray-Art Studios. Sunset Gower also underwent a $10 million modernization and beautification campaign including repainting the entire exterior facade of the lot.Commenting on the radical transformation of the studio over the last 30 months, Bob Papazian reflects, “We really wanted to create a special place that would capture the former glamour of Hollywood and restore the luster of this historic lot yet with a modern infrastructure to serve the creative community.” The new owners also installed a state-of-the-art fiber optic telecommunications infrastructure, constructed one of the largest Computer Generated Imagery (CGI) ready Cyclorama stages in Los Angeles, added a 130 space parking structure, and remodeled its retail restaurant, formerly Pinot Hollywood, which was renamed Eat on Sunset.“We are still very bullish on Hollywood as the enduring center of the entertainment industry and we look forward to continuing to invest throughout the media sector,” says Richard Magnuson, Executive Managing Director of GI Partners. “We are excited about all the things we have achieved during our ownership of this venerable studio and are thrilled to have had an opportunity to add to its glory,” adds Andrew Tainiter, a Managing Director at GI.Built in the 1920’s, Sunset Gower was home to many of Columbia’s most notable films, including “Death of a Salesman,” “Lawrence of Arabia,” “From Here to Eternity,” “Funny Girl” and “Mr. Smith Goes to Washington.” Classic television series including “Bewitched,” “I Dream of Jeannie” and “The Flying Nun” were taped on the lot. In recent years television productions included “Six Feet Under,”“Fresh Prince of Bel Air,” “Golden Girls,” “JAG,” “Barney Miller” and “Married with Children.” Productions currently shooting at Sunset Gower include NBC’s hit series “Heroes,” Showtime’s “Dexter,” and Touchstone’s “October Road.”GI Partners was represented by CB Richard Ellis on the sale of the studio.About GI PartnersHeadquartered in Menlo Park, CA, with a major office in London, GI Partners is a leading private equity firm focused on control-oriented investments in recurring revenue and asset-intensive businesses in the United States and Western Europe. With $2 billion of capital under management, GI Partners seeks to achieve superior returns by unlocking value obscured by complexity and market dislocations. For more information about GI Partners, please visit the group’s website at www.gipartners.com.About Sunset Gower StudiosSunset Gower Studios, located in Hollywood, is one of the largest independent studios in the US. Strategically located in Hollywood, which has long been the epicenter for the entertainment industry, the 16 acre studio is the production home to network television shows, feature films, commercials, and music videos. The site is comprised of 42 buildings, which includes 12 sound stages on Sunset Blvd. For more information about Sunset Gower Studios please visit www.sunsetgower.com.Gerald PorterTel: 310 248-4479gerryporter@hspr.net###This press release was issued through GroupWeb EmailWire.Com. For more information on press release distribution, go to http://www.emailwire.com.
gerald porter
gerryporter@hspr.net 
Source: EmailWire.com
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