In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. In 1920, Western Union has implemented the world's first transmission of images over the ocean. The size of the commission fee for the transfer is charged according to the Western Union tariffs and depends on the amount of money sent. The Western Union Company is a financial services and communications company based in the United States. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.