Paxon sells 53 radio stations

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Paxson Communications Corp., West Palm Beach, Fla., said it will sell its 53 radio stations (42 of them in Florida) and its outdoor ad division to Clear Channel Communications Corp., for $693 million cash. Paxson recently purchased WBIS-TV, New York, for an estimated $258 million and cable TV's Travel Channel for $75 million.

Copyright June 1997, Crain Communications Inc.

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