Leonard Goldenson
Goldenson orchestrated the merger of United Paramount Theatres with ABC in 1953 (after Paramount was ordered to spin it off in the wake of "United States v. Paramount Pictures, Inc.", a 1948 decree of the U.S. Supreme Court). ABC was originally formed in 1943 in the wake of an earlier Supreme Court decree effectively ordering the spinoff of the largely secondary-status "Blue Network" from its then-parent, NBC; its buyer, industrialist Edward J. Noble, tried to build ABC into a competitive Broadcasting company, but by 1951 was rumored to be on the verge of selling the nearly bankrupt operation to CBS, whose management apparently wanted ABC's critically important owned-and-operated television stations.
Leonard Goldenson
Goldenson rescued ABC by convincing his board of directors to buy the company from Noble for $25 million. becoming the founding president of the merged company which was named American Broadcasting-Paramount Theatres. The modern ABC dates its history from the effective date of the Goldenson transaction, and not the Blue Network spinoff.