The series began March 30, 1946,[3] with Bette Davis, Anne Revere and Fay Bainter in Jezebel. On that first show, Jean Hersholt spoke as president of the Academy of Motion Picture Arts and Sciences, welcoming the E.R. Squibb & Sons pharmaceutical company {"The House Of Squibb"} as the program's sponsor. It was an expensive show to produce, since the stars cost $4000 a week, and another $1,600 went each week to the Academy of Motion Picture Arts and Sciences for the use of their name in the show's title.[4] This eventually became a factor in Squibb's decision to cancel the series after only 39 weeks.

The program initially aired on Saturdays at 7 pm (ET) through June, then moved to Wednesdays at 10 pm.

The series ended December 18, 1946, with Margaret O'Brien and one of the series' frequent supporting players, Jeff Chandler (appearing under his real name, Ira Grossel) in Lost Angel.