The ink is dry on John Mayer’s purchase of Jim Henson’s Muppets lot in Los Angeles.
The singer teamed with Charlie’s Angels film director Joseph McGinty Nichol, known professionally as McG, to buy the lot.
TMZ reports the deal was closed for $45 million (£36 million) – $15 million (£12 million) less than was first mooted in November this year.
Mayer will oversee the facility’s recording studio, while McG will manage other properties on the lot, which is located on the corner of La Brea Avenue and Sunset Boulevard in Hollywood.
The lot will undergo a name change at some point, although no decision on what that might be has been announced to date.
Mayer already had an office on the lot, and both the singer and McG are said to be prioritising preserving the history of the famed studio.
At the same time, they also want to maintain it as one of the West Coast’s premiere sound recording studios.
The lot was originally constructed in 1917 by silent film star Charlie Chaplin, who shot many of his classics there.
Over the intervening years, it has also been home to Adventures of Superman, The Flintstones and Perry Mason.
Jim Henson’s children bought the lot in 1999 for $12.5 million (£10 million) as the new home of The Jim Henson Company.
