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Now, some foundations that are private like that, or set up in that fashion, have special
causes that they want to support. And in a sense, Bill's did too, because he was supporting
his own museum out of that. He, I think, supported the Museum of Modern Art. His
contributions and so forth came out of that. But it had no cause if you will.
Yes. I just ran across it on one of your resumes. So I was curious.
I'd like to go back to a little bit of what we discussed in our last session on several different
items. And one that I found intriguing was when you were talking about Fred Borch coming
to you -- I think it was in the late fifties or early sixties, something like that, and discussing a
merger with GE.
It would have been an acquisition by G.E. It wasn't a merger.
An acquisition. Why didn't that deal go through? What was it about it that didn't
Well, the deal would have worked because it was a very straightforward
acquisition. The real reason that it didn't go forward, I believe, is that after we discussed it
with -- after I discussed it, at Paley's request, with certain members of the CBS board, we
then took it to our key executives to see how they felt about it, and almost to a man they were
opposed to it. That is, our internal officers. The board was relaxed about it. I think some
members of the board were hesitant about it, others were favorable. I don't know of anybody
on the board who opposed it in my conversations. I felt a little embarrassed in going to
individual members of the board about it, because it seemed to me it was something that
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