Cable TV's Travel Channel sold

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Paxson Communications Corp., West Palm Beach, Fla., agreed to buy cable TV's Travel Channel from Landmark Communications for $75 million in cash and Paxson stock. "The Travel Channel needs more subscribers," said Paxson Chairman-CEO Lowell "Bud" Paxson. "The company plans to offer cash and equity to cable companies, removing the requirements of subscriber fees over time, and a unique and fresh approach to affiliate relations to secure additional cable carriage."

Copyright June 1997, Crain Communications Inc.

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