The 46-acre Baja Studios near Rosarito, about 150 miles south of Los Angeles, was built in 1996. Its huge water tanks housed a replica of the title ship during the extended shoot of Titanic.
The tanks were also used on other water-borne epics, among them Master And Commander, Pearl Harbor and Tomorrow Never Dies.
The private investor group, Baja Acquisitions, bought the property for an undisclosed amount.
Fox said it decided to accept the offer because it has other production facilities in Los Angeles and Sydney.