Desilu's first studio was on Cahuenga Boulevard in Hollywood, at the site of what is now the Ren-Mar rental studio; the first episodes of I Love Lucy were filmed there. In 1956, the company bought the nearby RKO lot, and moved its facilities there.
After Arnaz and Ball's divorce in 1962, Lucy bought Desi's stake, leaving her in full control of the company. Later, in 1967, the company was sold to Gulf+Western, which merged it with its other production company (and Desilu's next-door neighbor) Paramount Pictures. Desilu's holdings are currently owned by media conglomerate Viacom.
The studio was named after Arnaz and Ball's ranch.