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On this day: December 31

POSTED: 02:25 AM PST Dec 29, 2012    UPDATED: 11:00 PM PST Dec 30, 2013 

Times Square holds its first New Year's Eve celebration, the board game Monopoly is patented, "Calvin and Hobbes" say goodbye, and the U.S. relinquishes control of the Panama Canal, all on this day.

OTD December 31 - New Year's Rockin' Eve
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ABC Television

1972: Dick Clark begins a new holiday tradition with his first "New Year's Rockin' Eve" broadcast. The inaugural event was hosted by rock band Three Dog Night, with performances by Helen Reddy, Al Green, and Blood, Sweat and Tears. Clark himself reported live from New York City's Times Square for the countdown to midnight. He would take over full hosting duties in 1974 and continue through 2004. After suffering a stroke and missing the 2005 version, he returned in a limited role from 2006 through the 2011 edition.

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