Early 1923 records show there were 20 radio stations on the air in Chicago alone. Most of these smaller radio stations faded out because of money issues. The Chicago stations that are or had been on the dial for many years usually had a store, newspaper or organization behind them which was willing and able to weather the early times when many radio stations did not make a profit. WMAQ had the financial backing of the "Chicago Daily News" and a very capable general manager in Judith Waller. Waller remained in charge of the station until it was purchased by NBC. At that point she became the director of public affairs programming for NBC's central division, holding that title until her retirement in 1957.