I do not claim to understand the ins and outs of who owned what when. If that date is right, and if nothing changed, Garry's deal would have taken effect during the third season of the syndicated show. Gil Fates in his 1978 book says something about the rights finally ending up in the hands of a conglomerate. Maybe Garry sold out, taking a big return on his $1000 gamble and stepping away.
Garry's investment and acquisition of the show wasn't really a gamble on his part. Ira Skutch touches on this in his autobiography, and I just dug it out to refresh my memory...When G-T sold the rights to W
hat's My Line? and
I've Got a Secret to CBS, they did so because of some incentive in tax laws regarding capital gains. The IRS reviewed the business deal and made some sort of ruling that neither G/T nor CBS would be subject to the tax benefits unless there was a third party involved in the deal, so Garry Moore got lassoed in and was made the third party so that everybody would make a nice chunk of money from the transaction. That's as much detail as Ira offers, so no follow-up questions, please.