Apple Hunts Locations For Its Hollywood Entertainment Hub: WSJ

July 20, 2021 12:48 PM | 1 min read | Make a Comment

Apple Inc AAPL aims to lease a large production campus in Los Angeles to increase its Hollywood penetration and intensify competition with Netflix Inc NFLX and Amazon.com Inc AMZN, the Wall Street Journal reports.
It follows Amazon's MGM Studio acquisition.
The iPhone maker explores several locations in the already crowded space for the new hub, which could exceed half a million square feet.
It would support Apple's current arrangement, where the company leases soundstages to film in the Los Angeles area and other parts of the world.
Price action: AAPL shares traded higher by 2.70% at $146.30 on the last check Tuesday.