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
Edward J. Wasp Edward J. Wasp Edward J. Wasp, also known as E. J. Wasp, is an engineer and inventor known for developing long distance slurry pipelines for the transportation of coal and other solid materials. Wasp, born in New York City, earned a bachelor's degree in chemical engineering from Cooper Union, a master's degree in mathematics from the University of Pittsburgh, and an MBA from Golden Gate University. He began experimenting with coal slurries in a systematic manner when he worked for Consolidation Coal Company in the early 1950s. Wasp combined works of scientists and engineers and developed a model that related