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 Edward Irwin Noble Edward Irwin Noble Edward Irwin (September 29, 1869 – August 10, 1937) was a United States Navy Rear Admiral and Navy Cross recipient. He was born at Greenfield, Ohio on September 29, 1869. He graduated from the United States Naval Academy in June 1891, and was wounded in action 1 May 1898 while aboard the in the Battle of Manila Bay. Irwin was also mentioned in the Executive Officer's official report for "intelligent personal work" on vessel repairs after the battle. Noble Irwin commanded in 1914 during the Fourth Battle of Topolobampo, a naval battle between Mexican forces during