“The predecessor to Trailways Transportation System was founded February 5, 1936, by Burlington Transportation Company, Santa Fe Trails Transportation Company, Missouri Pacific Stages, Safeway Lines, Inc., and Frank Martz Coach Company.
The system originated with coast-to-coast service as the National Trailways Bus System (NTBS). Greyhound Lines had grown so quickly in the 1920s and 1930s that the Interstate Commerce Commission encouraged smaller independent operators to form the NTBS to provide competition. Unlike Greyhound, which centralized ownership, Trailways member companies became a formidable competitor while staying an association of almost 100 separate companies…
During the 1950s and 1960s, consolidation among bus operators resulted in four of the five original Trailways members becoming part of a new company, Continental Trailways, which eventually operated the majority of Trailways routes…
Under the new ownership in 1987, led by Currey, Greyhound Lines later acquired the former Continental Trailways company, the largest member of the Trailways system, effectively eliminating a large portion of bus competition. Although Greyhound negotiated cooperative schedules with Carolina Coach Company and Southeastern Trailways, two of the larger members of the Trailways system, many smaller carriers were effectively forced out of business. Greyhound later acquired Carolina and the intercity operations of Southeastern. Most of the survivors diversified into charters and tours.”
Source: Wikipedia