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
Library of American Broadcasting to its new location. Now housed in the Broadcasting Archives at the University of Maryland, the Library of American Broadcasting is a wide-ranging collection of audio/video recordings, books, pamphlets, periodicals, personal collections, photographs, scripts, and vertical files devoted exclusively to the history of broadcasting. LAB holds many collections of note, including the papers of Sol Taishoff, founder of the influential industry publication "Broadcasting"; the papers of Helen J. Sioussat, director of the Talks Department at CBS (1937–58); the scrapbooks of Edward J. Kirby, chief of the radio branch of the War Department in World War II; and the papers of