one of the major national television networks. Originally called the Blue Network, the system was formed in 1927 as the second member of the National Broadcasting Company, along with the Red Network. In the 1940s, the Federal Communications Commission imposed regulations that forced the sale of the Blue Network. It was purchased in 1943 by Edward J. Noble, chairman of Life Savers, Inc., and in 1945, the name was changed to American Broadcasting Company (ABC). In 1986, ABC was acquired by Capital Cities Communications, Inc., and the new corporation became Capital Cities/ABC, Inc. In February 1996, the corporation was purchased by the Walt Disney Corporation, creating a company with combined assets of more than $30 billion and a market capitalization of some $50 billion, making it the world's biggest media and entertainment conglomerate. In the ABC Television Network Group, the corporation distributes programming to 224 affiliated stations. It owns and operates ten television stations, six of which are in the country's top ten markets. The ABC Radio Network serves more than 3400 radio stations and owns and operates 21 AM and FM radio outlets, all in major U.S. markets.
In addition, the ABC Cable and International Broadcast Group is the majority owner of ESPN and ESPN2 in the United States and overseas and is a partner in the Arts and Entertainment (A&E) and Lifetime Cable Networks in the United States. ESPN reaches more than 66 million cable subscribers, or approximately 70% of U.S. television households, and is seen in 130 countries in 11 different languages.
