CBS Records became an industry leader in the 1940's despite the fact that Chairman and CEO of CBS William Paley, only grudgingly supported Peter Goldmark, the CBS staff inventor and engineer, in developing the long-playing record.

Then when Goldmark who worked for Dr. Frank N. Stanton head of CBS research, invented the first color television system in 1940, Paley vetoed the idea believing that it posed a threat to radio. However, when Paley realized the potential of TV, he quickly took credit for it.

In 1949, Goldmark's system was approved by the Federal Communications Commission (FCC) for general use. But the CBS system was not compatible with black-and-white sets, spurring David Sarnoff to ask his own scientists to develop a compatible system. Three years later they were successful and the FCC made the RCA system the industry standard.

But Goldmark and CBS won another battle in the early 1950's when their 33 1/3 RPM longer play records decisively beat RCA's 45 RPM recording system. Goldmark had engineered a revolution in the recording industry.

Goldmark later turned his attention to a thin-film video recording device, but it was not a commercial success.

Goldmark was born in 1906 in Budapest but was living in Westchester County, New York when he died in 1977.