In October 1942, Lloyd emerged as the director and host of The Old Gold Comedy Theater, an NBC radio anthology series, after Preston Sturges, who had turned the job down, recommended him for it. The show presented half-hour radio adaptations of recently successful film comedies, beginning with Palm Beach Story with Claudette Colbert and Robert Young.

Some saw The Old Gold Comedy Theater as being a lighter version of Lux Radio Theater, and it featured some of the best-known film and radio personalities of the day, including Fred Allen, June Allyson, Lucille Ball, Ralph Bellamy, Linda Darnell, Susan Hayward, Herbert Marshall, Dick Powell, Edward G. Robinson, Jane Wyman, and Alan Young, among others.

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