Complex sentence: In 1923, the building was rented by William Randolph Hearst for use as studio space for his Cosmopolitan Productions after the company's own facilities were destroyed by a fire on February 19,1923.
Split into simpler sentences: In 1923, the building was rented by William Randolph Hearst for use as studio space for his Cosmopolitan Productions. Space here was used for filming after Cosmopolitan's own facilities were destroyed by a fire on February 19,1923.