Complex sentence: The station is owned by the NBCUniversal Owned Television Stations subsidiary of NBCUniversal, as part of a duopoly with NBC owned-and-operated station KNBC (channel 4), and the two stations share studios located at Universal Studios Hollywood at Universal City.
Split into simpler sentences: The station is owned by the NBCUniversal Owned Television Stations subsidiary of NBCUniversal, as part of a duopoly with NBC owned-and-operated station KNBC (channel 4). The two stations share studios located at Universal Studios Hollywood at Universal City.