Context: Universal's forays into high-quality production spelled the end of the Laemmle era at the studio. Taking on the task of modernizing and upgrading a film conglomerate in the depths of the depression was risky, and for a time Universal slipped into receivership. The theater chain was scrapped, but Carl, Jr. held fast to distribution, studio and production operations.

Question: What part of Universal's business was terminated while it was in bankruptcy?

Answer: The theater chain