Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

NBC takes stake in Paxson

Published on .

NBC, as expected, today announced a $415 million investment in Paxson Communications Corp., West Palm Beach, Fla., giving NBC and parent General Electric Co. a 32% stake in Paxson. After February, New York-based NBC has the option of taking up to 49% of Paxson, including Chairman Lowell Paxson's controlling stock, if the Federal Communications Commission changes its rules and allows NBC to increase its Paxson stake. Paxson, the parent of Pax-TV, has an economic interest in 72 TV stations, mostly low-rated UHF outlets.

Copyright September 1999, Crain Communications Inc.

Most Popular
In this article: