Blue Sale

Edward John Noble, smart, genial board chairman of the Blue Network, this week announced sale of more than a quarter of Blue's common stock (which he acquired last summer for $8,000,000). Principal purchasers (12 1/2% each): TIME INC. and Chester J. LaRoche, onetime board chairman of the potent advertising firm of Young & Rubicam, who becomes a director and chairman of the executive committee of the Blue. Other purchasers: Mark Woods, president, and Edgar Kobak, executive vice president, of the Blue Network.

TIME INC., which originated the MARCH OF TIME and now presents the TIME Views the News program on Blue, will exercise no authority or responsibility over Blue's programs. It will, however, supplement Blue's news service with reports and cables from its own correspondents. Said Ed Noble: "Looking to the postwar period, TIME'S staffs will be enlarged and new offices opened so as to cover all key listening posts during our world campaign for winning the peace."

Said TIME INC. President Roy E. Larsen, who becomes a member of Blue Network's board of directors: "This acquisition is a culmination of almost 20 years of TIME INC.'S interest in radio."

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