The American Broadcasting Company (ABC) came to be because of a U.S. Supreme Court anti-trust ruling, forcing the National Broadcasting Company to divest itself of its second radio network, The Blue Network. On October 12, 1943, 'NBC Blue' became the ABC Network, purchased for $8,000,000 by conservative businessman Edward Noble, a self-made millionaire and owner of Life-Savers candies as well as the Rexall Drug Store chain.
Noble thought that "Blue" was not the best name for a broadcast network. It was suggested that a name beginning with "A" be chosen so the network would be at the beginning of alphabetical listings. Thus, the American Broadcasting Company was born. At the time it consisted of three wholly owned radio stations, and over 200 network affiliates.