The Price Is Right is Leaving Television City After Five Decades

A significant change is on the horizon for the classic CBS game show The Price is Right.

Deadline reported this week that production would cease at the show's Television City compound after 51 years.

As a result of a $1.25 billion revamp of the location, The Price is Right is on the move.

When The Price Is Right Season 52 enters production later this year, it will be at Haven Studios in Glendale.

"In light of Hackman Capital Partners' plans to undergo a major renovation at Television City, the time has come to move television's longest running game show, The Price Is Right, into a new home," said Suzanne Lopez, COO of Fremantle (which produces TPIR), in a statement.

"While we bid a fond farewell to this cultural landmark, we are excited to say that we will be moving into a brand-new, state-of-the-art facility at Haven Studios."

"We can't wait to have our fans 'Come On Down' to this new facility when we begin production on the next season this summer."

The news is understandably a big surprise, mainly because of how long the series called Television City home, but the silver lining is that the show has not been canceled.

Fremantle is an investor at the new location with a long-term lease, so that should keep production on the show running smoothly.

Viewers likely won't notice a difference in the move because the bulk of the show's set will likely be moved to the new location.

Then again, it could be the case that Fremantle and CBS will elect to switch the set.

Television City is also home to CBS' The Late Late Show with James Corden, which is ending its run this spring, as well as The Young and the Restless, Dancing with the Stars, American Idol, and Real Time with Bill Maher.

What are your thoughts on the news?