Communications: New Colossus

ABC has long played third fiddle to NBC and CBS. Although it has sales of $421 million and operates 401 movie theaters, it has not had the plentiful cash with which its rivals dominate the TV screen. But last week the word at ABC was money—lots of it. After a year of dickering, the International Telephone & Telegraph Co. (1964 sales: $1.5 billion) agreed to acquire ABC in a move that, if it goes through as expected, will produce a new electronics-entertainment colossus. The combination would outrank Radio Corp. of America (1964...

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