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 April 19, 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 into 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 DIS in 1995, the network has produced award-winning content from “Lost” to “Grey’s Anatomy.”

See also: How to Buy Disney Stock