Simplify the following text for a Grade 8 native English-speaking person.
Original: After a period of complete shutdown , a moribund Universal agreed to sell its 360-acre ( 1.5 kmÂ ) studio lot to MCA in 1958 , for $ 11 million , renamed Revue Studios .
Simplified: After a period of complete shutdown , a moribund Universal agreed to sell its ( by now ) 360-acre ( 1.5 kmÂ ) studio lot to MCA in 1958 , for $ 11 million .