Hackman Capital Partners-owned Television City, located in the Beverly/Fairfax District of Los Angeles, has pledged $2 million to support local community revitalization efforts and diversity initiatives in the entertainment industry.
The move comes a week and a half after the company came under scrutiny on social media for allowing the Los Angeles Police Department to use the Television City studio complex amid the protests stemming from the death of George Floyd. Much of the outcry online was directed at CBS, which until 2018 owned the facility and still leases some of its sound stages and office space; it currently has no role in operations at Television City after selling the space to Hackman Capital.
“Television City has called this community home for nearly 70 years, and it pains us to see our neighbors, community organizations, and small businesses – many of which are trying to reopen their doors in the first time in over three months – suffer through these challenging times,” said Michael Hackman, Hackman Capital Partners’ founder and CEO, in a statement. “We believe Television City can spearhead a catalytic effort among local stakeholders to provide meaningful help. This community is resilient, and will come back even stronger, more vibrant, and cohesive.”
The pledge will be split evenly, with $1 million going toward community revitalization, aiming to support local organizations, businesses and individuals, and $1 million toward an educational endowment to improve diversity levels and offer career opportunities in the entertainment industry.
The Hackman Capital endowment will “work with local schools, production studios, and content creators to offer Black students and other underrepresented communities the resources to obtain mentorship, internships, scholarships, and the necessary education and onsite training to secure jobs in Los Angeles’ largest industry,” per the real estate investment and operating company.
“As a studio and as individuals, we stand in solidarity with the Black community and those speaking out against systemic racism and racial inequities,” said Hackman. “But we want to do more than talk about the issues, we want to take meaningful action. In today’s world of content creation, experienced production crews are in high demand, and we are committed to expanding these opportunities to traditionally underrepresented communities, creating jobs and building a more diverse entertainment industry.”
“The past three months have been an incredibly painful time for the Beverly/Fairfax District and our City as a whole,” he added. “By working with the Black community, our neighbors, small businesses, and our City’s most beloved industry, we can emerge from this period stronger than before. I hope Television City’s pledge will inspire other stakeholders to join us in this effort; we have thought about this long enough, now is the time to act.”
In a statement to Variety regarding usage of the complex, Hackman Capital said that it “stands in solidarity with those speaking out against systemic racism, violence and injustice” and that it provide access to first responders from the LAPD and Los Angeles Fire Department “to ensure public safety.”