Netflix is buying its first production studio complex

Netflix isn’t just expanding its footprint in California. The streaming behemoth is planning to open a production hub in New Mexico by acquiring Albuquerque’s ABQ Studios — its first purchase of a production studio complex. It’s making the deal (which is still in “final negotiations”) in part due to incentives, which include up to $10 million in Local Economic Development Act funding from the state as well as a maximum of $4.5 million from Albuquerque.

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