Paxson Revenues Rise With Station Acquisitions
Paxson Communications Corp., the TV station group owner in West Palm Beach, CA, reported that revenues rose 67 percent to $31.7 million for the quarter ending March 31.The rise in revenues was attributed to the addition of new stations that the company had acquired during the period. Its net income rose to $2.6 million, compared with a loss of $8.5 million for the euivalent period last year. That rise in net income included a $14.3 million gain on the sale of TV station assets.
Its operating cash flow during the period rose 97 percent to $10.6 million on the strength of paid programming revenue.
