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
Pamal Broadcasting Pamal Broadcasting Pamal Broadcasting, Ltd. is a family-owned radio group with twenty-three stations in medium-to-small markets in the Northeast. Based in the Albany suburb of Latham, New York, Pamal Broadcasting was founded in 1986 as Albany Broadcasting Company, when business man James J. Morrell entered broadcast ownership with the purchase of WFLY and WPTR from Five States Tower Company, a Poughkeepsie, NY based broadcasting company that also owned radio stations WPDH and WEOK in the mid-Hudson valley. The Pamal name, a portmanteau of the names of Morrell's children, was adopted in 1996 though each cluster uses a unique name (such