eventually expanded nationwide: the NBC-Red Network, with flagship station WEAF, and NBC-Blue, centered on WJZ. Although NBC was originally promoted as expecting to just break even economically, it soon became extremely profitable, which would be an important factor in helping RCA survive the economic pressures of the Great Depression that began in late 1929. Concerned that NBC's control of two national radio networks gave it too much power over the industry, in 1941 the Federal Communications Commission (FCC) promulgated a rule designed to force NBC to divest one of them. This order was upheld by the U.S. Supreme Court, and on October 12, 1943, the NBC-Blue network was sold to candy magnate Edward J. Noble for $8,000,000, and renamed "The Blue Network, Inc." In 1946 the name was changed to the American Broadcasting Company (ABC). The "Red" network retained the NBC name and remained under RCA ownership until 1986. For two decades the NBC radio network's roster of stars provided ratings consistently surpassing those of its main competitor, the Columbia Broadcasting System (CBS). But in 1948, as the transition from radio to television was beginning, NBC's leadership came under attack due to what became known as the "Paley raids", named after the president of CBS, William S. Paley. After World War II the tax rate for annual incomes above $70,000 was 77%, while capital gains were taxed at 25%. Paley worked out an accounting technique whereby individual performers could set up corporations that allowed their earnings to be taxed at the significantly lower rate. Instead of NBC responding with a similar package, Sarnoff decided that this accounting method was legally and ethically wrong. NBC's performers did not agree, and most of the top stars, including Amos and Andy, Jack Benny, Red Skelton, Edgar Bergen, Burns and Allen, Ed Wynn, Fred Waring, Al Jolson, Groucho Marx and Frank Sinatra moved from NBC to CBS. As a result, CBS boasted of having sixteen of the twenty top-rated programs in 1949. The consequences would carry over to television, where CBS maintained its newfound dominance for decades. Paley had personally worked to woo the performers, while Sarnoff professed his indifference to the defections, stating at an annual meeting that "Leadership built over the years on a foundation of solid service cannot be snatched overnight by buying a few high-priced comedians. Leadership is not a laughing matter." Radio receivers RCA acted as the sales agent