[1] Bolívar Films began in 1939, with documentaries made by Luis Guillermo Villegas Blanco and Samuel Dembo.

In addition, it produced the country's first weekly newscast with government commissions and advertising reporting.

[4] Between 1946 and 1947, Villegas Blanco planned to shoot fictional feature films for commercial theaters, inspired by the model of Argentine and Mexican cinema.

The result of this was a variety of films, of varying prestige and quality, made by foreign directors: The Demon is an Angel (1949, Carlos Hugo Christensen), The Yacht Isabel Arrived This Afternoon (1950, Christensen), That's the Woman I Want (1950, Juan Carlos Thorry), Dawn of Life (1950, Fernando Cortés), Venezuela también canta (1951, Cortés), Six Months of Life (1951, Víctor Urruchúa), Green Territory (1952, Ariel Severino and Horacio Peterson), and Light in the High Plains (1953, Urruchúa).

Distribution and exhibition problems made these films commercial failures, with the company continuing to run by producing documentaries, advertisements, and newscasts.