What if Thanhouser Company remained open?

In reality, we know In 1920, Thanhouser Company was liquidated and Absorbed into First National Attraction.

But in this AU idea where Thanhouser Company remained open for years to come.

Changes

 * Thanhouser Company would've been later known as First National Pictures (1920-1928) until merging with Warner Brothers Film Company (1923-1928) to form Warner Bros. Pictures (1928-present)