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PAX NET coming to TV
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November 19, 1997: 2:55 p.m. ET
Paxson Communications Corp. plans to launch 7th U.S. network in 1998
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NEW YORK (CNNfn) - Paxson Communications Corp. said Wednesday it will launch the nation's seventh television network in August 1998. Called PAX NET, it will feature family-friendly programming.
As part of the plans, the network will air three original programs as well as re-broadcasts of shows from other networks that avoid violence and sex, such as "Touched by an Angel," and "Promised Land."
Paxson said its 59 stations nationwide will provide a good foundation to reach 70 percent of television viewers nationwide at launch time.
The company, the largest owner of television stations in the country, is waiting for federal approval to acquire another 14 stations.
"The cable and satellite industries will discover how friendly PAX NET is," said Dean Goodman, president of the new network.
The company will collaborate on programming and original feature films with Focus on the Family, a Colorado-based Christian ministry that produces radio and television shows, films and books.
"Families need quality alternatives for television viewing," said James Dobson, president of Focus on the Family.
The three original programs include "Celebrities and Charities," which will feature a famous person's favorite charity; "The Mike Levey Show," an entertainment and variety show; and Live Link, a phone-in show with topics such as lifestyle and family issues.
PAX NET also will air episodes of Focus on the Family's "Last Chance" detective series.
Lowell Paxson, chairman of Paxson Communications, said he hopes the new network will generate sales of about $400 million in 1998. He expects it to be profitable within about four months after launch.
The company said it hopes to acquire new stations so it can increase its saturation to 83 percent of the market.
The network will hire 600 new employees, most in advertising.
As part of the plans, Paxson also is changing its symbol on the New York Stock Exchange from (PXN) to (PAX) effective Monday. The company's stock was down 11/16 at 9-3/16, nearly 7 percent, in trading early Wednesday.
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