The former Dreamworks founder and current Quibi found recently sold his property on Loma Vista Drive for $125 million. The home originally was bought by Katzenberg in 2009 for $30 million. A 26,000 SF home was subsequently building on the site in 2012.

The Wall Street Journal broke the story and was told by a spokesperson:

“had been looking to downsize for some time, and received an offer they couldn’t refuse,” a spokesperson for the executive told the Wall Street Journal, which broke the story. “They will stay in the house for another six months, and plan to remain in the immediate neighborhood.

The home was designed by the architect Howard Backen. The sellers were represented by Kurt Rappaport from Westside Estate Agency.