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. Connelly of Elks, Knights of Columbus, and Ancient Order of Hibernians. Connelly died on December 28, 1960 in Wakefield. Wakefield's Connelly Park and the Edward J. Connelly Criminal Justice Training Center in Agawam, Massachusetts are named after Connelly. Edward J. Connelly Edward J. Connelly was an American military officer during World War I. Connelly was born on October 10, 1876 in Chelsea, Massachusetts. His family later moved to Wakefield, Massachusetts and he graduated from Wakefield High School. Connelly enlisted as a private in the Massachusetts Volunteer Militia, which saw action in Puerto Rico in during the Spanish–American War. He later served