Radio: CBS Shake-Up

"My imagination went wild over the possibilities of radio. But wild as it went, it didn't go wild enough to keep up with the realities." In 18 years, William S. Paley has not changed this opinion of radio. He was only 27 when he paid $400,000, partly from cigar-peddling profits, to buy the Columbia Broadcasting System. The date: 1928. Since then, "Wild Bill" has personally directed his lusty, incredibly wealthy network, kept it staffed with an unusual collection of young men. When he returned to his desk after 24 months overseas, Bill Paley decided to shake up his first team. Last...

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