For many years the Ann Arbor was owned by the Wabash Railroad, but Wabash gave up control in 1963 as part of its absorption into the Norfolk and Western. The DT&I, by then itself owned by the giant Pennsylvania Railroad, again gained control in 1963. The combined DT&I and AA were operated as independent subsidiaries of the PRR but suffered from the parent company's ill-fated 1968 merger with the New York Central. Upon the resulting Penn Central's 1970 bankruptcy, the DT&I and its Ann Arbor subsidiary were sold off to private investors.