ABC Records American Broadcasting Company (ABC). It evolved from federal antitrust actions taken against the movie studios and broadcasting companies in the 1940s and early 1950s. In 1943 the Federal Communications Commission took action against anti-competitive practices, one of which forced the Radio Corporation of America (RCA) to sell the Blue Network, the sister network of NBC Red Network. Blue was purchased by the businessman Edward J. Noble, and he changed its name to the American Broadcasting Company in 1946. In 1953 ABC merged with United Paramount Theatres, the divested former exhibition/cinema division of Paramount Pictures. The newly merged corporation was chaired
Edward Quartermaine on Charles Street. Edward became so anxious to shut down Ned's singing career that he bought Ned's record company, L&B, right out from under the noses of Ned's wife, Lois, and her business partner, Brenda Barrett. Lois got her company back with the help of Jasper "Jax" Jacks, and Jax got a spot on the ELQ board, which did not make Edward happy, especially when Jax teamed up with Tracy to take over ELQ. When this plan came to light, Edward banished his daughter a third time. When Edward found out Jason fathered a child, Michael, Edward became obsessed with