Radio: Rich Third

The once laggard third in radio and television's Big Three is coming up in the world. Eight months ago, the American Broadcasting Co., $7,500,000 in debt, merged with United Paramount Theaters (combined assets: over $144 million) in the biggest transaction in broadcasting history. For ABC, it was a spectacular shot in the arm and its first real chance to match bankrolls with NBC and CBS. With its new wealth, ABC promptly paid off its debt and set to work building programs (primarily for TV) and harvesting new affiliates (latest total: 158 TV stations, 363 radio outlets).

This week ABC's President Robert E....

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