Acquisitions have been a primary source of expansion for Disney during the last three decades. In addition, the firm distributes programming via three key acquired brands—ABC, ESPN, and 21st Century Fox—as well as its own Disney Channel. In 1994, Disney purchased Capital Cities/ABC, Inc., which at the time was owned by General Electric. The deal created the world's largest entertainment company with assets worth $20 billion. It also marked the beginning of the end for GE's involvement in television. The previous year, it had sold its 33 percent stake in NBC to General Motors for $6 billion. Capital Cities/ABC was one of the first major broadcast networks to be owned by a large media conglomerate. Its holdings included TV stations across the country, a cable network (ATV), and a major radio network. The company was founded in 1947 by seven former CBS executives who wanted to break away from their old network and start their own independent station group. After failing to receive approval from CBS to establish a separate network, they instead decided to buy one of its affiliates. ABC eventually became their flagship property and has remained so ever since. Disney's acquisition of Capital Cities/ABC gave the company ownership of a number of popular franchises including Star Wars, Marvel Comics, Pixar, and Live Action Television.