Tom Petty’s former home is staying in the music industry. The Encino mansion has been bought for $4.485 million by a limited liability company tied to Randy Spendlove, the president of Motion Picture Music at Paramount Pictures.
The sale price is around half a million less than when it first came to market in May.
On a tree-filled acre, the gated estate displays a markedly different style compared with the late rocker’s stay. An extensive remodel has given the 9,076-square-foot interior a more contemporary vibe.