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Thursday, Dec 8, 2022
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Palladium Deal Falls Through

Negotiations to sell the Hollywood Palladium have ended with no deal reached between the hall’s owner and Combined Properties Inc., Palladium Investors Ltd. announced today.

The 66-year-old Hollywood landmark will continue to book concerts, fundraisers, and other events, and has over 60 bookings for the remainder of the year, Larry Worchell, chairman of the board of Palladium Investors, said in a statement.

In June it had been reported that the 11,000-square-foot Palladium, which has been home to the Academy Awards and hosted Frank Sinatra, was sold to Washington, D.C.-based Combined Properties, a developer of commercial and residential properties.

The sale price for the nearly four-acre property on Sunset Boulevard was reported to be near $65 million.

“We couldn’t comment on reports of a sale before now, so today we want to set the record straight by announcing that the Palladium has not been sold,” Worchell said in a statement. “We were in negotiations to sell the venue, but that deal was not viable and it is over.”

The Business Journal first reported in June that the two sides were in early stage negotiations.

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