Once Mutual's appeals against the FCC were rejected, RCA decided to sell NBC Blue in 1941, and gave the mandate to do so to Mark Woods. RCA converted the NBC Blue Network into an independent subsidiary, formally divorcing the operations of NBC Red and NBC Blue on January 8, 1942, with the Blue Network being referred to on-air as either "Blue" or "Blue Network". The newly separated NBC Red and NBC Blue divided their respective corporate assets. Between 1942 and 1943, Woods offered to sell the entire NBC Blue Network, a package that included leases on landlines, three pending television licenses (WJZ-TV in New York City, KGO-TV in San Francisco and WENR-TV in Chicago), 60 affiliates, four operations facilities (in New York City, Chicago, Los Angeles and Washington D.C.), contracts with actors, and the brand associated with the Blue Network. Investment firm Dillon, Read & Co. (which was later acquired by the Swiss Bank Corporation in 1997) offered $7.5 million to purchase the network, but the offer was rejected by Woods and RCA president David Sarnoff.