'The Price Is Right' Losing Longtime Home After 50 Years

The Price Is Right will soon have a new home. After five decades at Television City, the Los Angeles studio complex where it has taped since its 1972 relaunch, the long-running iconic CBS game show is relocating to Haven Studios in Glendale, California. Deadline confirmed the news and added that the relocation comes amid an upcoming g $1.25 billion renovation at Television City, which will force The Price is Right to abandon the home it has maintained for the past five decades. The studio, Studio 33, is even named after former host Bob Barker. The relocation will take place later this summer as the show begins production on Season 52.

"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," 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 renovation will affect more than just The Price Is Right. 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. These titles are also reportedly in the process of "solidifying moving arrangements." It is unclear if they will also end up at Haven Studios, a new facility in which Fremantle is an investor with a long-term lease.

The original version of The Price Is Right debuted on NBC in 1956, with Bill Cullen hosting. The show moved to ABC in 1963 and ended in 1965. In 1972, CBS revived the series, created by Bob Stewart, Mark Goodson and Bill Todman, with Bob Barker as host. Barker remained attached to the show as host until he retired in 2007, with Drew Carey taking over the role.

The show is the longest-running game show in U.S. television history. As the show marked its 50th anniversary, Barker reflected on its legacy, sharing, "The show has the most enthusiastic and fun audience that one could ever ask for. They truly were and are the heart and soul of the show. I had the pleasure of working with a dedicated and talented cast and crew for 35 great years." He added, "Particularly close to my heart was the ability our vast popularity gave me to remind our entire audience daily about the importance of spaying and neutering your pets. It was an incredibly memorable ride! Once again, congratulations to The Price is Right on 50 historic years!! Here's to 50 more!!"