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
King Broadcasting Company a subsidiary, King Screen Productions, in 1966, to produce movies. The company financed Michael Roemer's film "The Plot Against Harry", which became famous for having been completed in 1970 but not securing a commercial release until 1990. Although King Screen was closed in the early 1970s, King Broadcasting continued to control the film's rights at the time of the 1990 release. King Broadcasting Company King Broadcasting Company is a Seattle, Washington media conglomerate and a subsidiary of Tegna founded by Dorothy Bullitt. It began with one AM radio station and later an FM radio station, and grew to include a