Raleigh Enterprises purchases the former Clune Studio in conjunction with Producers Studios Inc. and its owner Fred Jordan from the Clune Memorial Trust. At this time there were 12 Sound Stages, production facilities. When Raleigh purchased the lot they invested $40 million improving and expanding the lot and facilities. Three new stages were added along with other production facilities. Benny Montano, lot manager, security chief and general manager under Fred Jordan stays with the studio during the company transition.