One of the biggest and greatest studio backlots in all of Hollywood was at MGM in Culver City. As studio co-founder Louis B. Mayer was found of saying, there were more stars on his lot than in all the sky.
Sadly, the mighty studio couldn't survive its biggest foe- corporate raiders. In the 1960's, the studio had fallen victim to its policy of producing one huge film that would pay for the rest of its yearly film slate. Too many years in which its big films failed to live up to expectations had brought the company to its knees, forcing it to look for fresh financing. Corporate raiders saw the company's storied backlot as a rich goldmine that could be mined for its development value.
Without regard for the history behind the lot or its valuable prop warehouse, the company redeveloped its lot as housing and sold off its historic props, including Dorothy's ruby red slippers. The remaining lot, such as it was, was sold to Lorimar-Telepictures, which eventually became Sony Pictures.
