 Paramount was required to divest the theater chain as a result of the U.S. Supreme Court decision in the case "United States v. Paramount Pictures, Inc." (1948).The Publix Theaters Corporation was found in 1925 by the merger of the Balaban and Katz chain with Famous Players-Lasky Corporation theater chain.By 1930, the company owned 1,210 theaters in the US and Canada when the company changed its name to Paramount Publix Corporation.