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Nov. 14, 2018

Kramer Levin Advises Amalgamated in Sale of Albuquerque Studios

On Nov. 9, 2018, Kramer Levin client Amalgamated Bank sold Albuquerque Studios in New Mexico to Netflix. New Mexico has recently become one of the most prolific film producing states in the United States, and Albuquerque Studios is one of the largest independent film studios in the country with nine sound stages totaling more than 170,000 square feet. Major productions at Albuquerque Studios included feature films “The Avengers,” “Independence Day: Resurgence,” “Terminator Salvation” and “The Lone Ranger” and television series “Breaking Bad” and “Better Call Saul.” The sale to Netflix is expected to generate more than $1 billion of investment in New Mexico during the next ten years, including $600 million directly from Netflix, and generate up to 1,000 production jobs per year.

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