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In 1928, Clarence Mackay sold most of the cable and radio company to International Telephone and Telegraph Company.Mackay stayed on as Chairman for Mackay Radio and Telegraph Co. ITT kept the Mackay name for years, selling marine radio gear and running the Mackay Radiogram service along with American Cable Company and Commercial Cable Company.Initially, the radios were contracted to radio building companies, like Federal Telegraph Company who specifically built arc transmitters and shipboard radio equipment.FTC also built consumer radios in the mid-1920s under the Kolster name.Ironically, Postal Telegraph was sold to Western Union in 1943.The ITT-Mackay name in radio was actively used for decades, sometimes as Mackay Marine ITT and also Mackay Thales.He worked in the mines but eventually formed a partnership with three other Comstock investors, Fair, Flood and O'Brian and the four invested their way to wealth on the Comstock.
In 1901, Mackay started the Commercial Pacific Cable Company to begin transpacific telegraph operations.
Additionally, Great Northern Cable Company and Eastern Telegraph Company were added to the ever growing Mackay-Bennett system.
John Mackay died in London in 1902 and his son, Clarence Mackay (photo left) inherited all of the telecommunications businesses and saw to the completion of the transpacific system in 1904.
At that time, the Mackay-Bennett system serviced about two-thirds of the world with telecommunications.
Also, at this time the first "wireless" transatlantic telegrams were being sent and it was obvious that a wireless-radio communications system would become the next telecommunications technical revolution. Ed Nally went on to become VP of American Marconi and later the first president of RCA (in 1919.)In 1925, Clarence Mackay formed Mackay Radio & Telegraph Company.