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
Edward J. Bermingham the two men met at least twice at the White House. Bermingham was a member of the financial committee of the Republican National Committee and instrumental in Eisenhower's nomination. In retirement he raised cattle on his Wyoming ranch. At the time of Birmingham's death he was a trustee of the Eisenhower Foundation in Abilene, Kansas. Edward J. Bermingham Edward J. Bermingham (1887–1958) was a prominent investment banker and correspondent of Dwight D. Eisenhower. Bermingham worked for Lehman Brothers and Dillon, Read and Company, and was a trustee of Columbia University. Bermingham was a member of Columbia University's graduating class of