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
Robert Noble (company) Robert Noble (company) Robert Noble is a weaving and textiles business based in the Scottish borders town of Peebles at March Street Mills. It is listed amongst the oldest surviving UK businesses During the next two hundred years the company grew and developed. In 1884 it moved to a new purpose built mill at March Street in Peebles; still the home of Robert Noble today. During the twentieth century Ballantyne's formed part of the Dawson International business. However, during the latter part of the twentieth century the UK textiles industry went through various re-structuring and Robert Noble was sold off