6 February 2005
Pax packs it up
Way back in the fall of 1997, I saw bright prospects for Lowell "Bud" Paxson's ragtag television network, which launched the following year.
This, apparently, is the year it dies: this past week about fifty executives were pink-slipped, including President Bill Scott, which means generally one more press release before the doors close entirely.
What will happen to the sixty TV stations Pax TV owns is not clear, though NBC Universal, which owns just under a third of the network and which has been providing support for Pax stations through NBC affiliates, is presumably the most likely scavenger, especially since NBC demanded in the fall of '03 that Pax redeem NBC's Class B preferred stock and Pax begged off, pleading poverty.
It's probably a safe bet that most of the Pax stations will get new calls, since they all seem to have the ill-fated "PX" letter combination somewhere.
(Scissored out of a much longer piece by Jeff Jarvis.)Posted at 3:38 PM to Almost Yogurt