U.S. FILM COMPANY TO BE SPLIT UP
GOVERNMENT’S PLANS TO REVIVE COMPETITION WASHINGTON, February 26. The United States Department of Justice has announced that Paramount Pictures Incorporate!, the largest of the Hollywood producers, has agreed to split up its “empire.” The agreement developed from the Government’s 11-year-old suit charging the motion picture industry’s eight major producers with a conspiracy to throttle competition in violation of the antitrust laws. Paramount has agreed to sell most of its picture theatres and set up two completely separate companies—one to produce and distribute its pictures, the other to operate the theatres remaining in its present chain. The Department of Justice said that the agreement would shorten the efforts to restore competition in the film industry and should encourage the development and orderly operation of the industry.
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Press, Volume LXXXV, Issue 25741, 1 March 1949, Page 5
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132U.S. FILM COMPANY TO BE SPLIT UP Press, Volume LXXXV, Issue 25741, 1 March 1949, Page 5
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