Paxson expects summer NBC decision

Author:
Publish date:

Paxson Communications Corp. chairman Bud Paxson expects a decision on its
arbitration complaint against NBC sometime this summer.

Speaking with reporters after Pax TV's upfront presentation in New York
Wednesday morning, Paxson said his company has presented its case in the
hearing, which convened in April under the auspice of the American Arbitration
Association.

But the arbitrator had a family emergency before NBC could present its side.
That's now scheduled for late June, with rebuttals and closing arguments likely
to happen in July, followed by a decision around mid-August, according to
Paxson.

Paxson said he and the network have had 'no discussions' about settling the
dispute outside of the arbitration framework.

He argued that NBC violated the terms of their strategic alliance by
acquiring Telemundo Communications Group Inc. That acquisition created barriers
to NBC buying the two-thirds of Paxson it doesn't own and, thus, violated the
Pax-NBC strategic pact, Paxson argued.

That's because under current government ownership regulations, the Telemundo
deal would preclude NBC from completing a deal to buy the rest of
Paxson.

Related