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
Noble J. Johnson a Judge under Article I, but the court was raised to Article III status by operation of law on August 25, 1958, and Johnson thereafter served as an Article III Judge. His service terminated on March 17, 1968, due to his death. Johnson died on March 17, 1968, in Washington, D.C., where he had resided since his judicial appointment. He was interred in Bethesda Cemetery, West Terre Haute, Indiana. Noble J. Johnson Noble Jacob Johnson (August 23, 1887 – March 17, 1968) was a United States Representative from Indiana and an Associate Judge and Chief Judge of the United States