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
Red Lion Broadcasting Co. v. FCC at 380. Petitioner: Red Lion Broadcasting Company, et al. Respondent: Federal Communications Commission, et al. Chief Lawyer for Petitioner: Roger Robb Chief Lawyer for Respondent: Archibald Cox Justices for the Court: Hugo Lafayette Black, William J. Brennan, Jr., John Marshall Harlan II, Thurgood Marshall, Potter Stewart, Earl Warren, Byron R. White (writing for the Court) Justices Dissenting: None (William O. Douglas did not participate) The Supreme Court ruled unanimously in favor of the FCC and found the Fairness Doctrine to be constitutional. Justice White delivered the opinion of the Court and came to the conclusion that the federal government could