American Broadcasting Company which were related to advertising and were indexed compared to the number of listeners/viewers, failed to compensate for its heavy investments in purchasing and building stations. In 1951, a rumor even mentioned that the network would be sold to CBS. In 1951, Noble held a 58% ownership stake in ABC, giving him $5 million with which to prevent ABC from going bankrupt; as banks refused further credit, that amount was obtained through a loan from the Prudential Insurance Company of America. Leonard Goldenson, the president of UPT (which sought to diversify itself at the time), approached Noble in 1951 on
Broadcasting Company of America RCA's chairman of the board Owen D. Young and president James G. Harbord announced the formation of the National Broadcasting Company, Inc., to begin operations upon RCA's acquisition of WEAF on November 15. WEAF would go on to be the "key station" for the NBC radio "Red Network", which sometimes would still be referred to as the WEAF chain. The leased lines that figured so importantly in the acquisition of BCA would form the backbone for both NBC Red and its sister Blue Network for the next fifteen years. Broadcasting Company of America The Broadcasting Company of America (BCA) was