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  • The American Broadcasting Company is an American commercial broadcast television network viewed in the United States and Canada. Throughout its history, ABC has supported its financial operations by diversifying into the press, the publishing industry, the operation of theaters, and filmmaking. Many of the company's assets in these fields have been sold to other companies, and since 2007, when ABC Radio was sold to Citadel Broadcasting, ABC has reduced its operations almost exclusively to television. The network was created on October 12, 1943 as a radio network, successor to the NBC Blue Network which was purchased by Edward Noble, then extended its operations to television in 1948. In the mid-1950s, ABC merged with United Paramount Theatres, a former subsidiary of Paramount Pictures. Leonard Goldenson, who had been the head of UPT, managed to make the new television network profitable by leading it to broadcast many successful series. In the 1970s, ABC sold its theater operation division to Henry Plitt, who renamed it as Plitt Theatres. In the 1980s, after buying an 80% stake in the cable sports channel ESPN, the network merged with the publishing/broadcasting group Capital Cities Communications. In 1996, ABC and Capital Cities' other assets were purchased by The Walt Disney Company. Wikipedia

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