5 million to convert 20 acres (80,937 m2) of land in Hollywood into what would become The Prospect Studios, and construct a transmitter on Mount Wilson, in anticipation of the launch of KECA-TV, which was scheduled to begin operations on August 1 (but would not actually sign on until September 16).
ABC bought 20 acres of land in Hollwood in 1949 that would become what studio?
The Prospect Studios