Paxson Communications Issues Statement on the Future of Its Television Programming Content
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--May 25, 2005--Paxson Communications Corporation (AMEX:PAX) (the "Company" or "Paxson"), the owner and operator of the nation's largest broadcast television station group reaching 87% of U.S. households (approximately 95 million homes), today issued a statement in response to recent media reports that the Company is switching its television network to all paid programming.
Chairman and CEO Lowell "Bud" Paxson said, "There have been several reports in the press that the Company is dropping or reducing entertainment programming. Those reports are totally incorrect. The Company will continue to offer the same or an increased amount of entertainment programming than it has in the past. However, as we approach the new fall season, the entertainment programs on our schedule may change to allow the Company to give its shareholders a better return on their investment."
About Paxson Communications Corporation
Paxson Communications Corporation owns and operates the nation's largest broadcast television distribution system. Paxson reaches 87% of U.S. television households via nationwide broadcast television, cable and satellite distribution systems. For more information, visit Paxson's website at http://www.pax.tv.
Note: Paxson distribution data provided by Nielsen Media Research.