In the fall of 1928, he entered into talks with Adolph Zukor of Paramount Pictures, who planned to move into radio in response to RCA's forays into motion pictures with the advent of talkies.[16] The deal came to fruition in September 1929; Paramount acquired 49% of CBS in return for a block of its stock worth $3.8 million at the time.[2] The agreement specified that Paramount would buy that same stock back for a flat $5 million by March 1, 1932, provided that CBS had earned $2 million during 1931 and 1932.[16] For a brief time, there was talk that the network might be renamed "Paramount Radio", but it only lasted a month as the 1929 stock market crash sent all stock value tumbling.