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This Day In Market History: ABC Begins Broadcasting

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This Day In Market History: ABC Begins Broadcasting

Each day, Benzinga takes a look back at a notable market-related moment that happened on this date.

What Happened

On this day in 1948, the American Broadcasting Company made its network debut.

Where Was The Market

The S&P 500 lingered between $15.40 and $16.15, and the Dow Jones Industrial Average traded between $180.55 and $185.67.

What Else Was Going On In The World

Consumers were spending about $349.50 on a TV set and a mere nickel on a daily newspaper.

ABC First Airs

A year into the National Broadcasting Company's (NBC) foray in television, ABC expanded from its radio roots to join the fray.

The network soon partnered with popular content producers such as Walt Disney, who aired his “Disneyland” anthology in 1954, and Warner Brothers, which produced “Maverick” and other programs in ensuing years.

From there, ABC brought “The Flintstones” and “Happy Days,” dominated NFL coverage and acquired ESPN, and pioneered a new era in news with its appointment of Barbara Walters as the first woman anchor of a nightly newscast.

Since its sale to Walt Disney Co (NYSE: DIS) in 1995, the network has produced award-winning content from “Lost” to “Grey’s Anatomy.”

Related Links:

This Day In Market History: Capital Cities Buys ABC

Netflix To Capture ABC's Female Following With Rhimes Deal

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