Disney studio development north of LA approved

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A sprawling ranch north of Los Angeles that Walt Disney envisioned to be the backdrop for his movies and TV shows will be turned into one the largest new studio developments in more than a decade.

The Los Angeles Times reports the county Board of Supervisors approved Disney's Golden Oak Ranch plan that will include more than 500,000 square feet of studio space, multiple sound stages and other developments.

Disney/ABC Studios has spent the past four years attempting to build a high-tech production center at the Santa Clarita Valley site where such classics as "Old Yeller" were filmed.

County supervisors said the project would create more than $500 million in annual economic activity during a time when Los Angeles has struggled to retain film and TV production.