"In the first year at ABC we lost seventy million dollars, but by the next year we started to make money. By the time we sold it we were making about four hundred million dollars. It's a high-risk business. It's a tough business. Disney made a good deal."
About This Interview
In his three-hour Archive interview, Thomas Murphy speaks of his early years at WROW-TV in New York. He recalls being appointed the CEO of Capital Cities, and talks of overseeing the ownership of many television stations, dozens of cable-TV systems, and later, the acquisition of the ABC network. Murphy describes the balance of business between the station owners, networks and viewers, and the ever-changing telecommunications business. He outlines his relationships with many in the broadcasting and business community, including Rupert Murdoch, Warren Buffett, Barbara Walters, and then ABC President John B. Sias. He concludes by talking about the acquisition of ABC by Disney in 1995 and the then-media landscape. Donald West conducted the interview on October 22, 1998 in New York City, New York.