May 15, 1998
Paxson Names Former Sony Head as Chairman
Paxson Communications Corp., the TV station group in West Palm Beach, FL, whose growth has been financed with DRTV programming, named Jeff Sagansky as chairman and CEO. Sagansky, a former high-ranking executive of Sony Corp. and CBS Corp., will take over the title from Lowell "Bud" Paxson, who will remain chairman.
Paxson is preparing for the Aug. 31 launch of Pax Net, a new broadcast network that will air re-runs of family-oriented programming. The company next week will begin a major sales push to get advertisers to back the new network.