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
Broadcasting Company of America RCA's chairman of the board Owen D. Young and president James G. Harbord announced the formation of the National Broadcasting Company, Inc., to begin operations upon RCA's acquisition of WEAF on November 15. WEAF would go on to be the "key station" for the NBC radio "Red Network", which sometimes would still be referred to as the WEAF chain. The leased lines that figured so importantly in the acquisition of BCA would form the backbone for both NBC Red and its sister Blue Network for the next fifteen years. Broadcasting Company of America The Broadcasting Company of America (BCA) was