A court appointed trustee would control UPT stock for five years to ensure separate ownership of the two businesses.

With the American Broadcasting Company (ABC) looking to enter television, UPT had the cash from the divested theaters and was looking to invest that money elsewhere, as it was barred from film making.

[7] In 1950, UPT acquired a 1/3 share of Microwave Associates, Inc., a consulting and research company for millimeter-wave technology.

[1] In 1954, AB-PT made a deal with Walt Disney to provide capital for his proposed Disneyland project in Anaheim, California.

For $500,000 in cash and a guarantee of $4.5 million in bank loans, AB-PT acquired a 34.48% interest in Disneyland, Inc. and secured an agreement with Walt Disney Productions to provide programs for the ABC-TV network.

In a related transaction, Western Union acquired a 1/3 share in Microwave Associates, allowing that AB-PT holding to purchase a site for a new plant.

[2] On December 30, 1956, a film production company, American Broadcasting-Paramount Theatres Pictures was formed, with Irving H. Levin as President.

[8] On May 1, 1957, the American Broadcasting Company Radio Network was formed as an autonomous subsidiary, with Robert E. Eastman as President.

[18] In 1960, Walt Disney Productions paid $7.5 million to buy back AB-PT's share in Disneyland and obtain a release from its ABC-TV contract.

[25] The FCC approved the merger on December 21, 1966; however the previous day (December 20), Donald F. Turner, head antitrust regulator for the United States Department of Justice, expressed doubts related to such issues as the emerging cable television market,[26] and concerns over the journalistic integrity of ABC and how it could be influenced by the overseas ownership of ITT.

[36] A cable division was started in July 1979[37] which was incorporated as ABC Video Enterprises, Inc. (AVE) by March 25, 1980.

ABC and the Hearst Corporation in January 1981 formed a joint venture, Hearst/ABC Video Services, to provide programming to ARTS and launch BETA, a women's network, later that year.

Berkshire Hathaway chairman Warren Buffett helped to finance the deal in exchange for a 25 percent share in the combined company.