In September 1928, Warner Bros., flush with all their Jazz Singer money, bought the First National studios in Burbank in the San Fernando Valley and relocated their main production facilities there. This aerial photo (we’re looking east, so that’s the LA river on the right) was taken in 1928, so I’m going to guess that this photo was taken after the merger to show people what Warners had just bought. It also shows how empty the surrounding land was back then.

This satellite image is from March 2021, and shows how much the studio has grown since then—and the area around it.