All of this work had taken place at the Farnsworth Television labs, which had been purchased in 1949 by ITT Corporation, as part of its plan to become the next RCA. However, a fusion research project was not regarded as immediately profitable. In 1965, the board of directors started asking Harold Geneen to sell off the Farnsworth division, but he had his 1966 budget approved with funding until the middle of 1967. Further funding was refused, and that ended ITT's experiments with fusion.