April 21, 1949: Famous star Groucho Marx received the coveted George Foster Peabody Award for Broadcasting, becoming the first winner of this award. Groucho Marx hosted You Bet Your Life . Like the Nobel Prize, the George Forster Peabody Award is considered as one, if not the most prestigious achievement in the field of electronic media. With the goal of rewarding people or programs showing “principle of excellence in quality rather than popularity,” the prize was set to be awarded to people, organizations, networks, or individuals that had proven their commitment to commendable public service. Groucho Marx , a man famous for his mustache, was given this award for being the “Dean of all wise-crackers in this country” because of his witty way of hosting the successful quiz TV show You Bet Your Life . You Bet Your Life ran for nine years on the radio, had a television remake, and was inducted into the Radio Hall of Fame in 1988.