Court decision, International Salt Co. v. United States that lower courts are the proper place for such findings of fact, to be deferred to by higher courts. Also, he reminded the (Supreme) Court that the District Court had spent fifteen months considering the case and reviewed almost 4,000 pages of documentary evidence: "I cannot bring myself to conclude that the product of such a painstaking process of adjudication as to a decree appropriate for such a complicated situation as this record discloses was an abuse of discretion." He would have modified the District Court decision only to permit the use of arbitration to resolve disputes. Aftermath The court orders forcing the separation of motion picture production and exhibition companies are commonly referred to as the Paramount Decrees. Paramount Pictures Inc. was forced to split into two companies: the film company Paramount Pictures Corp. and the theater chain (United Paramount Theaters), itself merged in 1953 with the American Broadcasting Company. Consequences of the decision include: An increase in the number of independent movie theaters throughout the 1950s, 60s and 70s. An increase in independent producers and studios to produce their film product, free of major studio interference. The beginning of the end of the old Hollywood studio system and its golden age, allowing creative freedom for both behind-the-camera personnel and actors. The weakening of the (Hays) Production Code, because of the rise of independent and "art house" theaters which showed foreign or independent films made outside of the Code's jurisdiction. Following the decision, and with the rise of television, the major studios felt that the loss of their exclusive theatre arrangements would reduce the opportunity to re-release products from their extensive film libraries. Paramount, for example, sold its pre-1950 sound feature film library to MCA, which created EMKA (today Universal Television) to manage this library. Other studios, such as 20th Century Fox and Warner Bros., also sold or leased their classic back-catalogs to other companies such as Associated Artists Productions or National Telefilm Associates. By contrast, Walt Disney believed his film library was much more valuable than RKO had estimated it to be. In 1953, he formed a holding company that both held rights to his pre-1953 works and distributed new material from his studio. That company became its own in-house distribution unit, Buena Vista Film Distribution Company, Inc. That move, along with the eventual Walt Disney Company's theme parks and