Sony was originally proposing 44.056 kHz (NTSC - popular in Japan) with 16 bits while Philips was pushing for 44.1 kHz (PAL - popular in Europe) with 14 bits. The two reconciled their differences at the 4th Red Book meeting in 1980[1]. Sony was further ahead in developing the CD players but Philips supposedly was in the lead when it came to making the CD's[2]. Sony insisted on 16 bit vs while Philips was pushing for 14 bit. As a compromise they may have gone with the 44.1 kHz Philips was proposing and the 16 bit Sony was proposing because it would be easier to remember. Posts [1] and [2] are in direct conflict with each other on this point. There was further tension over what size disc to use [2].
The CD was one meeting away from launching another format war in the spirit of VHS vs Betamax or Blu-ray vs HD-DVD
Of course 44.056 kHz products did make it into the field for professional audio engineers. Anecdotally this made for some trouble: http://www.realhd-audio.com/?p=2197
[1] http://www.exp-math.uni-essen.de/~immink/pdf/beethoven.htm [2] http://www.whathifi.com/blog/the-cd-is-30-years-old-today