[78-L] World Broadcasting

[Geoffrey Wheeler]

New York Times, Friday, February 17, 1939
The Columbia Broadcasting System has signed contracts under which the 
company may acquire the World Broadcasting System, manufacturers of 
electrical transcriptions, it was announced yesterday (Thursday) by 
William S. Paley, Columbia president. Contingent on the working out of 
certain corollary agreements, it is contemplated that Columbia will 
acquire control from P. L. Deutsche, president of the transcription 
company, who will continue in the same capacity. No changes in the 
World organization are considered, it was added. “When and if the 
acquisition is completed,” Mr. Paley said, “Columbia will have extended 
still further its service to radio advertisers, and at the same time 
will be able, through the American Record Corporation, purchased in 
December, to offer records in the home field recorded on the highest 
quality equipment.” Mr. Paley added that, although the recording 
companies would use the same studios and equipment, they would be 
operated as separate subsidiaries.

On April 26, 1939, Columbia Broadcasting System terminated negotiations 
for the purchase of the World Broadcasting System and as a result will 
establish a complete transcription and general recording service for 
its subsidiary, American Record Corporation, William S. Paley, 
president of Columbia, announced yesterday (Tuesday). The American 
Record Corp. will install its own studios and recording and processing 
equipment. Mr. Paley said that study is being given to the precise form 
the American Record Corp. transcription activities will take. Plans and 
policies will be announced with a few months.
Geoffrey Wheeler