The invention of the "AGC" or Automatic Gain control was way back, and the musicians union actually boycotted them! Amazing. They boycotted these new AGC's because prior to that breakthrough, there was actually a person, usually a composer or conductor, reading the score along with the syphony's performance and riding the master based on the score!
There have been so many crazy schemes and methods for gain reduction since then.
The first AGC I believe was built into radios in roughly 1930. Some sort of diode limiter type jammy.... I am a little hazy on that. I know the first AGC's were in radios though, rather than at the station itself. I also DO know it was roughly 1930 and I believe was made by philco.
I have a few compressors from the late forties, and early fiftties, and they vary GREATLY in operation, and even method of reduction.
The 6386 "vari mu" tube was a HUGE breakthrough in AGC technology. (think fairchild, gates, collins.... etc from that era).
Bob Orban has a paper published on the interweb about the history of broadcast compressors i believe.... That original paper is where I read about the boycotting...
Enjoy! I love compressors, and their history. Please email me if you find anything interesting on the web or otherwise. I wish someone would write a book on the history of compression.... Maybe I will!