Paxson Communications Announces the Sale of Flagstaff and St. Louis Television Stations.Business & Entertainment Editors WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Jan. 8, 2001 Paxson Communications Corporation (AMEX AMEX See: American Stock Exchange :PAX) announced today that it has reached an agreement to sell KBPX TV-13, its VHF (Very High Frequency) The range of electromagnetic frequencies from 30 MHz to 300 MHz. TV station in Flagstaff Flagstaff, city (1990 pop. 45,857), seat of Coconino co., N Ariz., near the San Francisco Peaks; inc. 1894. Lumbering, ranching, and a lively tourist trade thrive in the region, where many ruined pueblos, numerous state parks, several lakes, and large pine forests serving the Phoenix market and WPXS TV-13, its VHF TV station in the St. Louis market to Equity Broadcasting Corporation, one of PAX TV's most significant affiliate group operators. KBPX has already been replaced by Paxson's other owned and operated station, KPPX TV-51 as PAX's primary affiliate in Phoenix. Under this agreement, WPXS TV-13 in St. Louis will remain a full PAX TV network affiliate. Additionally, WPXS TV-13, St. Louis will serve as an affiliate for all of Paxson's future digital programming formats. The sale of these properties is a result of Paxson's continuing efforts to manage its O&O station group's national coverage within the caps imposed by the FCC's UHF (Ultra High Frequency) The range of electromagnetic frequencies from 300 MHz to 3 GHz. In the U.S., analog television has used UHF channels 52 to 69 in the 700 MHz band. discount rules. Flagstaff's VHF station, KBPX counts as 1.41% of total US TV HHs toward Paxson's FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. mandated 35% ownership cap. KPPX TV-51, Paxson's O&O strong full power UHF station also blanketing the Phoenix market, counts as 0.7% of US TV HHs, as its UHF station status provides for under FCC standards (counting UHF HHs as 1/2 of VHF HHs). The St. Louis VHF, WPXS counts as 1.1% of the US TV HHs. Upon completion of this and other announced transactions, Paxson's O&O station group's national reach under the FCC's UHF discount rules will be [33.1%] of the US television HHs. Lowell "Bud" Paxson, Chairman of Paxson Communications, said, "The sale of both of these VHF stations together frees up more than 1.8% of the US TV HHs under the ownership cap without diminishing PAX TV's network reach. This allows us our O&O station group the ability to incorporate one or more additional top 30 market UHF TV stations into the line-up should such opportunities arise." About Paxson Communications Corporation Paxson Communications Corporation owns and operates the nation's largest broadcast television station group and PAX TV, the newest broadcast television network. PAX, the national family entertainment network, reaches 81% of U.S. television households via nationwide broadcast television, cable and satellite distribution systems. Through the company's strategic relationship with NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. , the two networks shared the premiere of the dramatic series "Mysterious Ways" last summer. The series continues every Tuesday this fall on PAX and has just returned Monday nights on NBC. Other original 8:00 p.m. (ET/PT) PAX series include "Miracle Pets," "Twice In A Lifetime," "It's A Miracle It's a Miracle was a television show that aired on PAX-TV (now Independent Television) between September 6, 1998 and September 1, 2004.[1] Initially hosted by Richard Thomas[2], and later by Roma Downey, [3] " and "Encounters with the Unexplained." For more information, visit PAX TV's website at www.pax.tv. About Equity Broadcasting Corporation Equity Broadcasting Corporation is based in Little Rock, Arkansas Little Rock, Arkansas required military intervention to desegregate schools (1957–1958). [Am. Hist.: Van Doren, 556–557] See : Bigotry . The company owns and operates KKYK, the WB affiliate for Little Rock and Camden, Arkansas as well as KYPX, the PAX affiliate for Little Rock. In addition, Equity owns KWBS KWBS Kitchener-Waterloo Bilingual School (Canada) , the PAX affiliate serving the Springfield, Mo and Ft. Smith/Fayetteville markets, has just purchased the FOX and UPN affiliates in Northwest Arkansas and is under contract to buy the NBC affiliates serving much of Wyoming. Equity also recently built KQOK in Oklahoma City, a 5 million watt independent station. Also under the Equity umbrella are 40 LPTV LPTV Low Power Television LPTV Linear Periodically Time Varying LPTV Large Payload Test Vehicle stations and full power television stations under construction in Tucson, AZ; Spokane, WA; Salt Lake City, UT; Montgomery, AL; Panama City, FL; Missoula, MT; Butte Butte, city, United States Butte (by  t), city (1990 pop. 33,336), seat of Silver Bow co., SW Mont.; inc. 1879. It is a trade, ranching, and industrial center. , MT; Great Falls, MT and Marquette, MI. Equity also owns and operates a dozen radio stations in Arkansas This is a list of radio stations in Arkansas. Fayetteville, ArkansasKAPG 88.1 FM Religious KXUA 88.3 FM College radio [1] KAYH 89.3 FM Southern Gospel [2] KBNV 90.1 FM Contemporary Christian [3] KUAF 91. . This press release contains "forward-looking statements," within the meaning of federal securities laws, that involve risks and uncertainties. All statements herein, other than those consisting solely of historical facts, that address activities, events or developments that the Company expects or anticipates will or may occur in the future including such things as business strategy, measures to implement strategy, competitive strengths, goals, expectations is subject to a number of risks and uncertainties and important factors that could cause actual results, events and developments to differ materially from those referenced in, contemplated by or underlying any forward-looking statements herein, including, among others, the continued development and viability of the Company's television operations, the Company's ability to manage its growth, the Company's high level of references to future success and other events may be on forward-looking statements. Statements herein are based on certain assumptions and analysis made by the Company in light of its experience and its perception of historical trends, current conditions and potential future developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results, events and developments will conform with the Company's indebtedness, restrictions imposed on the Company by the terms of its indebtedness and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , the impact of government regulations, industry and economic conditions, competition, changes in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , industry and economic conditions and other factors, many of which are beyond the control of the Company. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. |
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