How it started
Background
Paramount-Publix head Adolph Zukor acquired the successful Balaban and Katz theater chain in 1926. Partner Sam Katz would later run the Paramount-Publix theatre chain in New York City from the Paramount Building on Times Square.
Balaban and Katz had developed the Wonder Theater concept, first publicized around 1918 in Chicago. The Chicago Theatre was created as an opulent theater with many amenities for its patrons and was advertised as a "wonder theatre". When Publix acquired the Balaban and Katz chain they embarked on a project to expand the wonder theaters, and started to build in New York in 1926. While Balaban and Publix were dominant in Chicago, Loew's was the major player in New York, and did not want Publix theaters to overshadow their own. The two companies brokered a non-competition deal for New York and Chicago, and Loew's took over the New York area projects, developing the five Loew's Wonder Theaters. Publix continued Balaban and Katz's wonder theater development in its home area.
From Wikipedia’s article on Loew's Wonder Theatres, shared under CC BY-SA 4.0.2