The transaction is not yet final, but the value is said to be well north of $700 million. Word first surfaced last year that CBS was considering shopping the 25-acre site, where shows like All in the Family was produced and early television figures like Jack Benny performed.
CBS declined to comment.
Hackman has backed several notable developments in La, including the current expansion and modernization of Culver Studios. The home to classic Hollywood productions like Gone with the Wind and soon to be the Southern California base of Amazon.
Real estate values have been surging, especially in the neighborhood around the storied Television City site, where about a half-dozen shows including The Late Show with James Corden,