The story
Founded by A. J. Balaban, Barney Balaban and Sam Katz in 1916.1
Balaban and Katz Theatre corporation started in 1916 in Chicago by A. J. Balaban and his brother-in-law Sam Katz (1892–1961).
It held its first meeting as a Delaware corporation on January 21, 1925. It merged with Lubliner and Trinz in July 1925. Famous Players–Lasky Corporation, forerunner of Paramount Pictures, bought a controlling interest in Balaban and Katz Corporation in 1926. It became a part of United Paramount Theatres in 1948 after Paramount was forced to sell off its theaters.
The company also held at the Paramount Pictures-Theaters split in 1949: WBKB (TV), WIBK (FM), 25% of WSMB New Orleans, 50% of a company applying for an Atlanta AM license, 10% of another licensee apply for a license in Hot Springs, and television applications for Detroit, Boston, Tampa, and Des Moines. Balaban & Katz became a subsidiary of United Paramount Theatres, Inc. (UPT).
UPT merged with American Broadcasting Company in 1953. The company tore down the Garrick Theater in 1960 and 1961 over the objections of Richard Nickel and other preservationists. The company was officially dissolved as an Illinois corporation on July 31, 1970.
From Wikipedia’s article on Balaban and Katz, shared under CC BY-SA 4.0.3