served as "Munchkinland" in the production of The Wizard of Oz. In addition to the main production building, MGM added two large backlot facilities – Lot 2 located opposite the main studio across Overland Avenue. Lot 3 entered the corner of Jefferson Boulevard and Overland Avenue and was MGM's largest backlot. The administration building was inaugurated in 1938 and was named for Thalberg. However, the United States v. Paramount Pictures, Inc. antitrust case of 1948 severed MGM's connection with Loews Theaters, and it struggled through its affairs. On August 10, 1965, a massive fire destroyed Vault #7 in Lot 3, resulting in the loss of hundreds of silent-era films, among them Lon Chaney's 1927 film London After Midnight, though the majority of MGM's silent film stock survived the fire. In 1969, millionaire Kirk Kerkorian bought MGM and proceeded to dismantle the studio. MGM's film memorabilia was sold through an 18-day auction, and of the studio's backlots were sold. Lot 3 was razed while Lot 2 was sold to housing developments. Kerkorian used the money to construct his MGM Resorts hotel chain. In 1981, Kerkorian's Tracinda acquired United Artists and merged it with Metro-Goldwyn-Mayer to become MGM/UA Entertainment Co. He then sold MUEC to Ted Turner in 1986, who after 74 days, sold MGM/UA back to Kerkorian while retaining the pre-1986 MGM film library. In 1986, the studio lot was sold to Lorimar-Telepictures. During that time, the MGM logo was removed from the studios and moved across the street to the Filmland Building (now known as Sony Pictures Plaza) before their 1992 and 2003 moves to Santa Monica and Century City and finally settling in Beverly Hills from 2011 onwards. Columbia Studios/Sony Pictures Studios (1990–present) In 1988, Warner Communications acquired Lorimar-Telepictures one year before merging with Time Inc. to become Time Warner. Later in 1989, Sony hired producers Jon Peters and Peter Guber to run the company's newly acquired Columbia Pictures Entertainment unit, even though they had a contract with Warner Bros. To resolve this issue, Warner sold their Lorimar lot to Columbia, among other deals. Columbia Pictures had been sharing with Warner Bros. their studio lot in Burbank, California in a partnership called The Burbank Studios beginning in 1972. Sony sold its interest in The Burbank Studios as a result of the Guber-Peters issue. Sony acquired the property, first renamed Columbia Studios, in poor condition and thereafter invested $100 million