Television in the United States Gray Television, whose 131 stations cover mostly smaller metropolitan areas reaching only 10% of the population. The five major U.S. broadcast television networks are the National Broadcasting Company (NBC), CBS (formerly known as the Columbia Broadcasting System), the American Broadcasting Company (ABC), the Fox Broadcasting Company (Fox) and the CW Television Network. The first and elder three (which are colloquially known as the "Big Three") began as radio networks: NBC and CBS respectively began operations in 1924 and 1927, while ABC was spun off from NBC to Edward J. Noble in 1943 as the Blue Network during FCC inquiries over
NBC Sarnoff. After losing on final appeal before the U.S. Supreme Court in May 1943, RCA sold Blue Network Company, Inc., for $8 million to the American Broadcasting System, a recently founded company owned by Life Savers magnate Edward J. Noble. After the sale was completed on October 12, 1943, Noble acquired the rights to the Blue Network name, leases on landlines, the New York studios, two-and-a-half radio stations (WJZ in Newark/New York City; KGO in San Francisco and WENR in Chicago, which shared a frequency with Prairie Farmer station WLS); contracts with actors; and agreements with around 60 affiliates. In