Major Purchases, Obtaining Thanhouser Corporation
Hite bought stock in American Film Manufacturing, and afterward purchased the Globe, Royal, and Union film companies, forming the Majestic Film Exchange. When he learned that the successful Thanhouser Company might be for sale, he approached Edwin Thanhouser, and he and his partners purchased that company for $250,000 on April 15, 1912, in a transaction arranged by Mutual Film Corporation. Following the purchase, Hite was named president of the Thanhouser Film Corporation.
Under Hite's leadership, the company would see numerous successes in its films. In 1911, Edwin Thanhouser had obtained actress Florence La Badie, who would become Thanhouser Corporation's most profitable film star. In 1914, Hite cast La Badie in the serial The Million Dollar Mystery, which would become highly successful. By mid-1914, Hite was listed by Photoplay magazine as one of its twelve featured millionaires. During this period, Thanhouser Film Corporation was at its height.
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