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
British Broadcasting Company British Broadcasting Company The British Broadcasting Company Ltd (BBC) was a British commercial company formed on 18 October 1922 by British and American electrical companies doing business in the United Kingdom (and anxious to build sales of their products by ensuring that there were radio broadcasts to which their radio-buying customers could listen) and licensed by the British General Post Office. Its original office was located on the second floor of Magnet House, the GEC buildings in London and consisted of a room and a small antechamber. On 14 December 1922, John Reith was hired to become the Managing Director