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
Edward J. Wasp Edward J. Wasp Edward J. Wasp, also known as E. J. Wasp, is an engineer and inventor known for developing long distance slurry pipelines for the transportation of coal and other solid materials. Wasp, born in New York City, earned a bachelor's degree in chemical engineering from Cooper Union, a master's degree in mathematics from the University of Pittsburgh, and an MBA from Golden Gate University. He began experimenting with coal slurries in a systematic manner when he worked for Consolidation Coal Company in the early 1950s. Wasp combined works of scientists and engineers and developed a model that related