Pathé Exchange was an independent American film production and distribution company from 1921 through 1927. As early as 1900, the French company Pathé, at the time among the largest and most successful film studios in the world, distributed its films in the United States. In 1904, it launched an American subsidiary, Pathé Company, based in Buffalo, New York. In 1909, Pathé was asked to join the Motion Picture Patents Company (MPPC). As a result, Pathé utilized MPPC's General Film Company distribution company to distribute its films. Beginning in 1914, the Pathé Frères' film production studios in Fort Lee, New Jersey produced the successful serialized episodes, The Perils of Pauline. Pathé stopped all production in the US by 1914 and in 1915 re-incorporated Pathé Company to Pathé Exchange.