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There was an effort by Wall Street to force the Hollywood studios and distribution companies to consolidate. It was hoped that there would eventually be only two distribution companies to handle all the Hollywood product, and that the studios would consolidate into no more than four or five production facilities. There was a lot of negotiation that went on, but the only actual consolidation that took place was the combining of the Fox and Educational exchanges in 1934. Fox would end up buying Educational Pictures sometime later.