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
Noble Jones Noble Jones Noble Jones (1702, Herefordshire – November 2, 1775), an English carpenter, was one of the first settlers of the Province of Georgia and one of its leading officials. As part of Gen. James Edward Oglethorpe's 42nd (old) Regiment of Foot, he commanded Georgia's Northern Company of Marines during the War of Jenkins' Ear (1739–48). He was the father of Noble Wimberly Jones, a physician, Speaker of the Georgia House of Representatives, and prominent leader of the Georgia patriots during the American Revolution. Noble Jones established the Wormsloe Plantation eight miles from Savannah in the late 1730s. Most of