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
Ames Broadcasting Company Ames Broadcasting Company Ames Broadcasting Company, also "Lake City Broadcasting" was formed under the owner Betty Baudler Horras, who started out as a bookkeeper before becoming the first woman to own a radio station in Iowa. The small company owned and operated 3 radio stations in West Central Iowa. KCYZ, KASI-AM, KIKD-FM were owned by Ames or Lake City Broadcasting Company, but later sold. KCYZ (then KCCQ), KASI-AM radio stations that were located in Ames, Iowa were sold to Jacor that merged with Clear Channel Communications for an unspecified amount. KIKD-FM radio station located in Lake City, Iowa was sold