DreamWorks Kills Plans For Studio Campus

Citing financing problems associated with interest rates and higher construction costs, DreamWorks SKG has scrapped its proposed $250 million studio campus and headquarters at the Playa Vista development near the Pacific Ocean in Los Angeles, California. The announcement made last Thursday, end nearly a four-year old effort to build what would have been Hollywoodís first major studio since the Great Depression.Plays Vista officials, faced with the loss of its star tenant, plan to pursue building a studio facility despite DreamWorksí announcement that it will abandon the site.