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
British Broadcasting Company permitted to be licensed to receive programmes. The ability of the shareholders to profit from the BBC was limited as part of the agreement with the Postmaster General: The initial remit of the British Broadcasting Company was to establish a nationwide network of radio transmitters many of which had originally been owned by member companies, from which the BBC was to provide a national broadcasting service. The British Broadcasting Company was formed using a blueprint that the US Navy and the General Electric Company had attempted to institute in the USA. Early in World War I, all of the ship-to-shore