 This plan was aborted when head of Gulf and Western Industries (Paramount's parent company at the time), Charles Bluhdorn, canceled the project for fear of bleeding money; as a result, Paramount made the decision to transform "Phase II" into "".Despite this failure, Diller would eventually launch a successful fourth network, when in late 1986, he joined the Rupert Murdoch-owned News Corporation to create the Fox network, which went on to be one of the most successful networks in the country.In the 1980s, Paramount became increasingly involved with original syndicated programming in the U.S., with such successful series being "Entertainment Tonight", "", "" and "The Arsenio Hall Show", all of which were among the most popular syndicated series broadcast during that decade; with the continuing success of the "Star Trek" franchise (notably, "") and the purchase of television station owner TVX Broadcast Group (which owned independent stations in several large and mid-sized markets), the groundwork for a new network venture was laid.