William S. Paley: Godfather Of Broadcasting

In 1928 William Paley, son of one of the nation's largest cigar producers, purchased United Independent Broadcasters Inc., a collection of 16 radio stations. He renamed it the Columbia Broadcasting System and built it into one of the nation's largest radio networks before turning to television. Although NBC had the largest networks, Paley focused on providing his stations, first for radio and subsequently for television, with unique programming and top talent. He turned to public affairs, giving news his support and brining in some of the nation's foremost newscasters from Edward R. Murrow to Eric Sevareid and Howard K. Smith. Paley also went after the best performers, raiding NBC's stable of stars while assembling a cast of the nations top talent including Bing Crosby, Jack Benny, Al Jolson, George Burns & Gracie Allen, and Kate Smith. And he was a risk taker, airing Orson Wells's "The War of the Worlds," and doing it so well that many people believed Martians had invaded the planet. As CBS's despotic patriarch, Paley became fabulously wealthy by insuring that his "Tiffany Network" helped determine what the nation first heard and saw at home every night. Award-winning author Daniel Alef brings to life the story of one of America's broadcasting giants. [1,313-word Titans of Fortune article]