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In June 1953, the Federal Communications Commission (FCC) granted the proposal made by the Cook/Midland venture, and awarded the individual licenses for which the two companies had applied.Channel 9 first signed on the air as a shared operation on August 2 of that year.Hearst-Argyle Television continued to maintain operational responsibilities for KCWE until 2001, when its parent company, the Hearst Corporation, bought the channel 29 license outright by way of an indirect subsidiary (doing business as "KCWE-TV Company") separate from its broadcasting division.

The prospective licensees in question were the Cook Paint and Varnish Company and the Midland Broadcasting Company, which had respectively owned two of the area's AM radio stations – Cook was the operator of WHB (then at 710 AM, now at 810 AM), while Midland owned KMBC (980 AM, now KMBZ).Cook Paint and Varnish subsequently sold WHB radio to Storz Broadcasting in order to comply with FCC rules of the time period that restricted a broadcasting company from owning more than two radio stations in a single media market.In January 1955, the Meredith Corporation signed a multi-year agreement with CBS to affiliate five of television stations that the company owned at the time with the network.In April 1954, Cook Paint and Varnish purchased Midland Broadcasting's television and radio holdings – KMBC-TV, KMBC radio and sister radio station KFRM (550 AM) in Concordia, Kansas – in a deal that transferred the rights to Midland's lease to the Victoria Theatre, at the intersection of East 18th Street and Central Avenue in Downtown Kansas City, to Cook.After Cook formally assumed ownership of the station on June 14 of that year, KMBC-TV began occupying channel 9 full-time, absorbing WHB-TV's share of the operation and the lease to the Victoria Theatre, wherein Midland had rented space in the lower floors beneath the building's performance stage since it purchased the facility in 1947 to house the operations of KMBC radio and later KMBC-TV.

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After selling the building, in 1990, Hearst weighed plans to move KMBC-TV's operations to a new studio space elsewhere in the Kansas City metropolitan area; however, company management eventually decided to continue to operate the station out of the Lyric Theatre, with which the station entered into a leasing agreement after Hearst turned over ownership of the building.

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