Complex sentence: The United States Telephone Herald Company, founded in 1909, was the parent company for associate "telephone newspaper" companies, located throughout the United States, that were organized to transmit news and entertainment, over leased telephone lines, to subscribing homes and businesses.
Split into simpler sentences: The United States Telephone Herald Company, founded in 1909, was the parent company that oversaw regional "telephone newspapers" located throughout the United States. These individually chartered systems were designed to transmit news and entertainment, over leased telephone lines, to subscribing homes and businesses.