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
Weigel Broadcasting Weigel Broadcasting Weigel Broadcasting Company (a.k.a. Weigel Broadcasting) is an American television broadcasting company based in Chicago, Illinois, alongside its flagship station WCIU-TV (Channel 26), at 26 North Halsted Street in the Greektown neighborhood. It currently owns 16 television stations. The company was founded by Chicago broadcasting veteran John Weigel, whose career dated back to the 1930s. With $1,000 of his own money, and another $1,000 from his attorney, Daniel J. McCarthy, Weigel bought the broadcasting license for what became the first UHF television station in the Chicago area. WCIU signed on the air on February 6, 1964. One year