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. Meeman the Edward J. Meeman Journalism Building. In 1976, the University of Memphis published Meeman's posthumous autobiography oddly titled, "The editorial we: A posthumous autobiography". Edward J. Meeman Edward John Meeman (October 2, 1889 – November 15, 1966) was a crusading journalist who edited, among other publications, the since defunct "Memphis Press-Scimitar" in his adopted home city of Memphis, Tennessee, a position from which he retired in 1962. He began work as a $4 a week cub reporter in his native Evansville, Indiana, but left a multimillion-dollar estate to foster studies of biology, conservation, and the environment. Meeman was born to