American Broadcasting Company a proposal for UPT to purchase ABC. Noble received other offers, including one from CBS founder William S. Paley; however, a merger with CBS would have forced that network to sell its New York City and Los Angeles stations at the very least. Goldenson and Noble reached a tentative agreement in the late spring of 1951 in which UPT would acquire ABC and turn it into a subsidiary of the company that would retain autonomy in its management. On June 6, 1951, the tentative agreement was approved by UPT's board of directors. However, the transaction had to be approved by
J. Edward Lundy staff still use the term Lundyism to refer to grammatical, typographical, and formatting conventions in the preparation of financial reports. J. Edward Lundy J. Edward Lundy (January 6, 1915 – October 2, 2007) was an American automobile executive who became the chief financial officer of Ford Motor Company. Lundy was one of the Whiz Kids, a group of 10 young and ambitious veterans of the United States Army Air Forces led by Charles B. "Tex" Thornton. Thornton offered their employment as a group to Henry Ford II, and they were hired in 1946. He was assigned as financial planning manager,