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
British Broadcasting Company to the original shareholders of the British Broadcasting Company Ltd. was Burndept Limited. It represented the interests of over twenty small electrical manufacturers in the UK. The British Broadcasting Company did not sell air time for commercials but its licence did allow for it to carry sponsored programming, and eight such sponsored broadcasts were aired in 1925. However, the main source of its income was from the sale of radio receiving sets and transmitters manufactured by its shareholding member companies as well as from a portion of the government (GPO) licence fee that had to be purchased by BBC listeners.