Hollywood Palladium sale collapses

No deal could be reached between Palladium Investors Ltd. and Combined Properties Inc., which had planned to retain the 66-year-old venue and develop the adjoining parking lot, possibly with homes, stores and a hotel. The Palladium will continue to book concerts and other events, Larry Worchell, chairman of Palladium Investors, said in a statement. The owners said they couldn't comment on earlier reports that the Sunset Boulevard hall had been sold for $65 million (I can't understand why). There have been other interested parties in the property, but Combined was said to be well ahead of the pack. Now, it will probably be a case of how badly Worchell and the other investors want to unload the place. Another note: the Palladium hasn’t been listed on any historic registers, so a developer could raze the hall. Might be a more attractive investment.