Associated Rediffusion (or A-R) was the first ITV station to go on the air on 22nd September 1955 and carried the very first advertisement on British Television. It covered the London area and the immediate surrounding area of the Home Counties and was owned in a partnership between British Electric Traction (BET) and its subsidiary Broadcast Relay Services (trading as Rediffusion Limited) and Associated Newspapers. Like most ITV stations it made great losses in its first few years and Associated Newspapers sold its shares to its partners although the "Associated" part of its name was not dropped until 6th April 1964.