Paxson Communications confirms DOJ approval on acquisition of Orlando radio station.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Dec. 23, 1996--Paxson Communications Corp. (ASE:PXN) confirmed Monday that the US Department of Justice has completed its investigation into the holdings of the company and has granted approval of Paxson's plans to acquire, from Press Broadcasting Co., WTKS 104.1-FM serving the Orlando, Fla. market.

This acquisition will allow Paxson to complete its six radio station super-duopoly holdings in Orlando, including the following four FM stations and two AM stations: -0-

                 WTKS       104.1-FM
                 WMGF       107.7-FM
                 WJRR       101.1-FM
                 WSHE       100.3-FM
                 WWNZ       740-AM
                 WQTM       540-AM

Commenting on the announced acquisition, Chairman Lowell "Bud" Paxson said: "By acquiring WTKS-FM, Orlando's leading Talk station, Paxson strengthens its position as a leading broadcaster in Orlando. Adding this acquisition to our other Orlando media holdings including a Local Management Agreement with WIRB TV-56 and 295 billboard faces will allow us to take advantage of many opportunities in Florida's third largest market." Paxson also stated that the company is not under any other Department of Justice scrutiny at this time.

After completing these and other previously announced acquisitions, Paxson's radio group, the largest in the state of Florida, will operate 43 radio stations including 39 in the state of Florida as well as six radio networks, and 467 billboard faces throughout Florida. In addition, Paxson's other holdings will include its nationwide inTV Network, comprised of 46 owned, operated or affiliated television stations and 14 associated LPTV stations in markets reaching over 49.7 million television households. Paxson also operates two network-affiliated television stations in West Palm Beach, ranking Paxson's combined television group as the largest owner of broadcast television properties in the U.S. -0-

NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.paxson.com . These symbols may not appear properly in some systems.

CONTACT: Paxson Communications Corp., West Palm Beach

Seth A. Grossman, Director of Finance

561/659-4122, Fax [phone]

http://www.paxson.com