Netflix is buying its first production studio

The streaming company announced Monday that it is in the final stages of negotiations to buy ABQ Studios, a production studio in New Mexico’s largest city. It will be Netflix’s first purchase of a studio complex.

Netflix has been ramping up production of its original series in the last few years, and plans to make the studio hub home to some of those shows. Two upcoming Netflix series, the dramas “Chambers” and “Messiah,” are already being shot in New Mexico and will be produced at the new facility. A third show, “Daybreak,” will also be produced there.