“CBS Corporation on Monday announced that it had reached an agreement to sell its 25-acre CBS Television City property in the Fairfax District of Los Angeles, as well as its soundstage operation, to real estate developer Hackman Capital Partners for $750 million,” reports The Hollywood Reporter. You can read the full story by clicking here.

CBS’s Television City, now an iconic Los Angeles architectural landmark, was opened 66 years ago last month, on Nov. 16th, 1952. Below is a two page ad that CBS ran about Television City several months later in Daily Variety:

Here’s the ad copy from the right hand portion of the ad:

To see a wonderful gallery, put together by CBS, of historical pictures relating to Television City, please click here.

To read more about the history of Television City, please click here, which will take you to Wikipedia’s entry about it.