Television City sprung to life two years after CBS' founder, William S. Paley, decided in 1950 to relocate much of his company's entertainment operations to Los Angeles from New York. It was clear that television would eclipse radio, so that year CBS purchased the property at Fairfax Avenue and Beverly Boulevard to construct cavernous studios that could be equipped with cameras, lighting and studio audiences. The company did not have enough space at its Columbia Square property on Sunset Boulevard, so it spent a reported $7 million to build the futuristic complex with its midcentury design by noted architect William Pereira.

Source: Los Angeles Times May 04, 2018 13:52 UTC