the radio broadcasting department of the American Telephone and Telegraph Company, under the general designation of WEAF, will be incorporated under the name Broadcasting Company of America." Unpublicized at the time were ongoing intense negotiations between AT&T and the radio group companies, led by RCA, about the status of the cross-licensing agreements, and the overall future of the broadcasting industry. AT&T's consolidation of its radio activities into the BCA subsidiary allowed for two possible outcomes: if AT&T decided to withdraw, then the transfer of its radio operations would be simplified, otherwise, the new entity could continue to be run semi-independently of the parent corporation. During BCA's short existence, the standard WEAF chain configuration consisted of 17 stations, concentrated in the northeastern United States, but also extending westward to WDAF (now KCSP) in Kansas City, Missouri. Individual evening hourly station rates ranged from $170 for three stations located in smaller communities to $480 for flagship WEAF. The standard charge for an hour of evening programming over the entire roster of stations was $4,080, before any applicable discounts. BCA sale to the Radio Corporation of America Although the WEAF network operations were profitable, AT&T ultimately decided it was best to withdraw from radio broadcasting. The result was a total of twelve agreements, dated July 1, 1926, but signed six days later, between AT&T and the radio group companies. Included was the sale of BCA's assets, principally WEAF and its associated chain operations, to RCA for $1 million. A Consolidated Press Association wire service review of the transaction noted that the sum paid reflected WEAF's position in the industry, as it represented a substantial premium over what other radio stations were commanding in the marketplace, and estimated that 4/5ths of the purchase price for WEAF represented good-will and the securing of the use of AT&T's lines. The sale was initially kept secret from the staff and the general public, and did not become publicly known until July 21. AT&T's press release announcing the sale stated that although operation of WEAF and the WEAF chain had been financially successful, the company had concluded that "while the technical principle was similar to that of the telephone system, the objective of the broadcasting station was quite different from that of a telephone system. Consequently, it has seemed to us after years of experimentation, that the broadcasting station which we have built up might be more suitably