John Mayer and movie director McG have agreed to buy the Jim Henson Company Lot, a legendary studio in Hollywood founded by Charlie Chaplin.

John Mayer is set to purchase the storied Hollywood lot established by Charlie Chaplin and later owned by A&M Records and the Jim Henson Company, according to The Hollywood Reporter. A rep for Mayer - who has an office on the lot - confirmed that the musician,

John Mayer and McG are closing in to buy the famed Jim Henson Studio lot and the Charlie Chaplin Studios in Los Angeles.