The Church of Scientology has agreed to buy KCET's lot in Los Feliz.
Terms of the agreement were not released, but KCET's 4.5-acre lot at 4401 W. Sunset Blvd. is assessed at $14.1 million.
The deal has been in the works since March.
The station will remain operating in the Los Angeles area and says it is "in active discussions with several unidentified production facilities that will allow it to not only continue to produce award-winning shows, but also to further expand its programming and digital footprint across multiple media platforms."
A Church statement says the KCET property "is a perfect fit, in both size and location, for the expansion of the Church of Scientology's production of religious and social betterment audiovisual properties, and we welcomed the unexpected opportunity to acquire it."
The lot is close to the Church's Los Angeles headquarters and its recording studio in Silverlake.
KCET parted with PBS in January because the two couldn't reach an agreement on a reduction in PBS fees and on giving the station greater programming flexibility. KCET plans to move to smaller facilities.
The station has two control rooms, postproduction facilities, a news and talk show set, construction facilities and two sound stages.
KCET's studio was established in 1912 and is the oldest continuously-producing studio in Hollywood.
The Church says it "intends to not only maintain but enhance the rich history of this venerable studio by fully and meticulously restoring the property's remarkable historical structures."