It was founded in 1917 as First National Exhibitors' Circuit, Inc., an association of independent theater owners in the United States, and became the country's largest theater chain. Expanding from exhibiting movies to distributing them, the company reincorporated in 1919 as Associated First National Theatres, Inc., and Associated First National Pictures, Inc. In 1924 it expanded to become a motion picture production company as First National Pictures, Inc., and became an important studio in the film industry.