Another Hollywood landmark is put up for sale:
KTLA-TV's iconic home in Hollywood goes on the block
Mel Melcon / Los Angeles Times
The former Warner Bros. building on Sunset Boulevard.
The Tribune property, where the first talking motion picture was filmed in 1927, also houses production facilities.
By Roger Vincent,
Los Angeles Times Staff Writer
August 30, 2007
The historic former Warner Bros. studio on Sunset Boulevard, now occupied by television station KTLA-TV Channel 5, has been put up for sale by Tribune Co. amid a wave of high-stakes real estate investment in Hollywood.
No price has been set for the block-size property at the southeast corner of Sunset and Bronson Avenue that also houses Tribune Entertainment and Tribune Studios. In recent years, other studios and historic properties in the neighborhood have sold for millions of dollars as investors race to take part in Hollywood's resurgence.
A real estate expert who asked not to be identified because he may become involved in the bidding process valued the property at about $175 million. Nearby Sunset-Gower Studios, the former Columbia Pictures headquarters, sold this month for more than $200 million.
KTLA occupies the prominent Colonial-style mansion facing Sunset that was built by Warner Bros. in 1919.
City officials expressed hope that the property would remain entertainment industry-oriented. Several historic properties in Hollywood are being turned into condos, apartments and shops.
Television shows filmed at Tribune's production facilities on the property -- but separate from KTLA -- include "Judge Judy," "Judge Joe Brown" and "Hannah Montana."