Plitt Theatres

[2] In early February 1933, Paramount-Publix was placed in equity receivership, under receivers Adolph Zukor and Charles D. Hilles, followed by voluntary bankruptcy in March.

[5] On December 31, 1949, the theater business was spun off into an independent company called United Paramount Theatres, headed by Leonard Goldenson.

In 1953, UPT merged with the American Broadcasting Company, providing ABC's television network with a source of cash flow that enabled it to survive and eventually become competitive.

[10] Plitt Theatres, owned partly by former ABC Films Syndication president Henry G. Plitt, purchased ABC Theatres northern group of 123 single-screen movie theaters including the Balaban & Katz chain in 1973.

In November 1985, Plitt Theaters was sold for $135 million to a group that included a Canadian firm Cineplex Odeon Cinemas (50%), Odyssey Partners and Furman Selz Mager Dietz & Birney Inc. A group of theaters that Plitt had previously put for sale was spun off the selling owners with Cineplex managing them until sold.