made possible the marriage of KWHY / Inger-style live market reporting with on-screen quotes and the concept of national news via satellite. The early history of FNN was not highly profitable and, within a few years, Buchser severed his relationship with the fledgling network to launch a financial marketing services firm called FMS Direct. In its early years, FMS Direct produced infomercials and direct response television spots which more often than not, ran on FNN, the network he had helped to found. Harvey "Scott" Ellsworth, who was the creator and on-air host of the popular radio program Scott's Place, which aired on Los Angeles radio station KFI from 1967 until 1974, was one of FNN's initial anchors. Private financing FNN received its early private financing from Biotech Capital Corporation, which later changed its name to Infotechnology, Inc. Biotech Capital was also one of the few publicly held "Business Development Companies" - governed by the Business Company Development Act of 1980. In 1981, shortly before its initial public offering, led by the Paulson Investment Company, Taylor, then the Chairman, resigned due to previous legal difficulties. Jeremy Wiesen, a professor of business accounting and entrepreneurship at the Stern School of Business, New York University, and formerly with the Securities and Exchange Commission, became Chairman. The network's principal audience were small investors. FNN's principal studio was in Santa Monica, California, but it then established operations in New York, on the ground floor of Merrill Lynch's headquarters in Manhattan, where passersby could view its broadcast operations. Merrill Lynch was one of the initial private investors in FNN. Over-the-air affiliates At first, the channel aired only during daytime hours on a mix of broadcast stations and cable television providers. Over-the-air affiliates included: KSCI, Los Angeles (now a ShopHQ affiliate) WATL, Atlanta (now a MyNetworkTV affiliate) WPWR-TV, Chicago (now a MyNetworkTV affiliate) KJTV (now KCIT), Amarillo (now a Fox affiliate) KNXV, Phoenix (now an ABC affiliate) WSWS, Columbus, Georgia (now Antenna TV affiliate WGBP-TV) KTWS (now KDFI), Dallas (now a MyNetworkTV affiliate) WKID (now WSCV), Miami/Ft. Lauderdale (now Telemundo) WWSG-TV, Philadelphia (now CW O&O WPSG); replaced in late 1982 by WRBV-TV, Vineland, NJ (now Univision-owned WUVP) WCCO-TV, Minneapolis (now a CBS owned-and-operated station) KSTS-TV 48 San Jose, CA (now a Telemundo O&O) WWHT (now WFUT), Newark, NJ WGGT (now WMYV), Greensboro, NC WRHT (now WPXD), Detroit KDNL-TV, St. Louis (now an ABC affiliate) WGNO, New Orleans