Olivia Newton-John closes escrow on Malibu home for more than $10 million

It took singer Olivia Newton-John almost a year to find a buyer for her Malibu home, but she can now apparently sing “You’re the One That I Want.”

Newton-John, who withdrew her house from the market last month, just closed escrow at more than $10 million, according to area real estate sources and public records. The house had been most recently listed at $11,495,000.

The buyer is a trust representing Patrick Kevin Morris and his wife, Gaby Morgerman -- both entertainment industry heavyweights. Morris is an entertainment lawyer and Morgerman a senior vice president at William Morris Agency. They own another Malibu house that is on the market.

The Newton-John listing, after 354 days, was about to expire when it disappeared in December from the Multiple Listing Service. It is not unusual for celebrities to withdraw their homes from the market once they are in escrow, hoping the sale will escape public notice.

The Mediterranean-style house has four bedrooms and seven bathrooms in 6,482 square feet. The 1.28-acre compound includes a pool, a spa and a two-bedroom guesthouse.

The gated neighborhood is no stranger to celebrity owners. Newton-John bought the property in 2004 for $5,995,000 from the widow of actor Charles Bronson, and Britney Spears used to live next door.

The 60-year-old Newton-John starred opposite John Travolta in “Grease” and appeared in “Xanadu.” She’s won four Grammys and has more than 25 top 10 single hits. Her best known songs include “Physical,” “Hopelessly Devoted to You,” “Let Me Be There” and, of course, “You’re the One That I Want.”

Buyer Morris negotiated a landmark deal that gave the creators of “South Park” an unprecedented 50% stake in the cartoon’s Web endeavors. His wife has been included in the Hollywood Reporter’s list of Hollywood’s most powerful women for several years.

ann.brenoff@latimes.com