- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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