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The studios initially flipped out, blocking the release of their films, delaying FCC approval and sending the Zenith subsidiary stock tumbling (Daily Tribune, May 26, 1950).
Then the studios took a familiar “we’ll wait and see but it’s going to fail anyway” attitude: “[Paramount Pictures president Barney] Balaban told Paramount shareholders at their annual meeting in New York that the company, after giving careful study to every aspect of phonevision, doubts its basic technical and economic feasibility. He asserted that ‘we believe that these technical and economic objections are inherent in the device. . .’ Balaban reiterated assertions that there is no direct relationship between the increase in sales of television sets and a decrease in the film business.” (June 7, 1950)
Content merchants felt shafted by technology and content providers: “Not so backward in giving their views on phonevision are the theater owners. They don’t like it. Summed up, their opinion is that ‘phonevision is the greatest threat to exhibitors conceived to date.’” (April 15, 1951)
