According to the Los Angeles Times, Tribune Co., the Chicago-based conglomerate that also owns the Times, has decided to sell the old Warner Bros. studios “amid a wave of high-stakes real estate investment in Hollywood.”
As per the Times report, “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.”
The Jazz Singer: First talkie filmed at Warner Bros. Hollywood Studios
Since the 1930s, the Warner Bros. studios – formerly, the First National studios – have been located in Burbank, north of downtown Los Angeles, though Warners continued to produce films on the Hollywood lot until the property was sold to Paramount in 1954.
Note: The old Warner Bros. Hollywood studio is not to be confused with the old Warner-Hollywood lot (a.k.a. the even older Mary Pickford / Douglas Fairbanks Studios), located at 7200 Santa Monica Boulevard in West Hollywood.
More info on the Warner/KTLA studios here.