Wikipedia 10K Redux by Reagle from Starling archive. Bugs abound!!!

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FirstNational

The First National Exhibitors' Circuit was founded 1917 by the merger of 26 of the nation's biggest First Run cinema chains, controlling more than 600 cinemas, more than 200 of them were First Run cinemas. The foundation, an initiative by Thomas L. Tally, was a reaction to the overwhelming influence of ParamounT, which dominated the market. First National was set up to combine the finacial power of the involved firms, to buy stars, to finance their movies and to gain the right to distribute them later. Between 1917 and 1918, they made contracts with MaryPickford and CharlieChaplin, the first million dollar deals in the history of film.
First National's finacial power and it's control over the lucrative First Run cinemas posed a threat to ParamounT, so it decided to enter the cinema business. With a sum of ten milion dollars they built their own chain of First Run houses and, after a secret plan to merge with First National failed (which led to the foundation of UnitedArtists, and to the loss of First National's biggest stars). In the early twenties, Paramount attempted a hostile takeover, buying one of First Nationals member firms after the other.