In 1922 the General Post Office agreed to license one commercial monopoly, to be known as the British Broadcasting Company, which would derive some income from a broadcast receiver licence and the rest from the manufacture and sale of receiving sets. Under the terms of the exclusive licence, the company could not sell air time. In 1923 Major-General Sir Frederick Sykes headed a committee to review this arrangement, which concluded that the GPO should stop licensing the British Broadcasting Company. It went out of business in December 1926. In 1927 the British Crown granted a charter to a non-commercial British Broadcasting Corporation and the GPO licensed this. John Reith was appointed to take control of the Crown corporation.