The document summarizes the history and structure of the American film industry. It describes how the industry developed between 1895-1930, becoming dominated by five major studios by 1930. These studios operated under a vertical integration system, controlling production, distribution, and exhibition. In 1949, the government forced studios to sell their theater chains due to antitrust issues. Today, six major film studios, which are subsidiaries of larger media conglomerates, control around 90% of the North American film market.