Albuquerque Studios Not For Sale Anymore
Our partners at the Albuquerque Journal report Pacifica Mesa Studios, the parent company to Albuquerque Studios, has worked out a deal with one of its creditors. Three weeks ago the creditor put an ad in the paper claiming Pacifica Mesa Studios owed $21.5 million. Foreclosure papers were then sent to the studio with a date at the auction block for next Friday. Since then the studios and the bank have reached an agreement allowing Pacifica Mesa Studios to continue managing Albuquerque Studios. The studio is also no longer for sale. The bank claims the studios defaulted on its loan and that's what started this mess.