mutual respect

The Mutual Broadcasting System (commonly referred to simply as Mutual; sometimes referred to as MBS, Mutual Radio or the Mutual Radio Network) was an American commercial radio network in operation from 1934 to 1999. In the golden age of U.S. radio drama, Mutual was best known as the original network home of The Lone Ranger and The Adventures of Superman and as the long-time radio residence of The Shadow. For many years, it was a national broadcaster for Major League Baseball (including the All-Star Game and World Series), the National Football League, and Notre Dame Fighting Irish football. From the mid-1930s and until the retirement of the network in 1999, Mutual ran a highly respected news service accompanied by a variety of popular commentary shows. Mutual pioneered the nationwide late night call-in talk radio program in the late 1970s, introducing the country to Larry King and later Jim Bohannon.
In the 1970s, acting in much the same style as rival ABC Radio had splitting their network in 1968, Mutual launched four sister radio networks: Mutual Black Network (MBN) (initially launched as "Mutual Reports"), which evolved to today's American Urban Radio Networks (AURN); Mutual Cadena Hispánica (or in English, "Mutual Spanish Network"); Mutual Southwest Network; and Mutual Progressive Network (later re-branded "Mutual Lifestyle Radio" in 1980, then retired in 1983).
Of the four national networks of American radio's classic era, Mutual had for decades the largest number of affiliates, but the least certain financial position (which prevented Mutual from expanding into television broadcasting after World War II, as NBC, CBS and ABC did). For the first 18 years of its existence, Mutual was owned and operated as a cooperative (a system similar to that of today's National Public Radio), setting the network apart from its corporate owned competitors. Mutual's member stations shared their own original programming, transmission and promotion expenses, and advertising revenues. From December 30, 1936, when it debuted in the West, the Mutual Broadcasting System had affiliates from coast to coast. Its business structure would change after General Tire assumed majority ownership in 1952 through a series of regional and individual station acquisitions.
Once General Tire sold the network in 1957 to a syndicate led by Dr. Armand Hammer, Mutual's ownership was largely disconnected from the stations it served, leading to a more conventional, top-down model of program production and distribution. Due to the multiple sales of the network that followed, Mutual was once described in Broadcasting magazine as "often traded". After a group that involved Hal Roach Studios purchased Mutual from Hammer's group, the new executive team was charged with accepting money to use Mutual as a vehicle for foreign propaganda while the network suffered significant financial losses and affiliate defections. Concurrently filing for Chapter 11 bankruptcy and sold twice in the span of four months for purposes of raising enough money to remain operational, the network's reputation was severely damaged but soon rebounded under succeeding owner 3M Company. Sold to private interests in 1966 and again to Amway in 1977, Mutual purchased two radio stations in New York and Chicago entering the 1980s, only to sell them after Amway's interest in broadcasting began to fade. Radio syndicator Westwood One acquired Mutual in 1985 and NBC Radio in 1987, merging the two networks together; throughout the 1990s, Mutual was gradually assimilated into Westwood One's operations until the name was finally retired.

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