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. Noble disciplines. Noble was part of the St. Lawrence Seaway Project and was appointed to the advisory board by President Dwight D. Eisenhower in 1954. He owned Boldt Castle, the Thousand Island Club, and a summer residence on Wellesley Island. The ornamental street lights in the village park are all that remain of the gift of new street lights that were given to the village by Edward and his brother, Robert. The lights were in memory of their father. Three hospitals and a foundation are named after him. Edward J. Noble Edward John Noble (October 8, 1882 – December 28, 1958)