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
Edward J. Scott Edward J. Scott Edward J. Scott (born September 15, 1944) is an American soap opera producer. Born and raised in Santa Monica, California, Scott earned a B.A from California State University at Northridge with a double major of anthropology and broadcasting journalism. He has been married since 1985 to actress Melody Thomas Scott, who is best known for her role as Nikki Newman on The Young and the Restless. The couple, who have three daughters: Jennifer, Alexandra and Elizabeth, recently renewed their wedding vows on their 20th anniversary in an Entertainment Tonight special, ranked #1 in its timeslot. Five-time Emmy