You will be redirected back to your article in seconds

Pax TV reports 4th quarter breakeven

Revs up 85.1% in 12 month period

Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31.

During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation.

For the 12-month period, total revenues rose 85.1% to $284.4 million, driven by increases in advertising, especially during the fourth quarter.

Net loss for the year was $160.4 million, nearly double the $88.3 million loss from 1998.

Sixteen months after Pax TV began airing, and about three months after Paxson partnered with NBC, company revenues for the fourth quarter rose 88.7% over the year earlier period to $80.7 million. Net operating loss for the quarter was $24.5 million, compared with $65.8 million the year prior.

“During the third quarter, our 39% growth in revenues over the third quarter allowed Pax TV to reach breakeven years earlier than any of the three recent network television programmers,” Paxson CEO Jeff Sagansky said. “As our relationship with NBC continues to develop, the company is well positioned to take advantage of the numerous operating, programming and revenue generating opportunities ahead in 2000.”

More Biz

  • Judge Judy CBS series

    'Judge Judy' Faces $4.75 Million Lawsuit Over Sale of Show's Library

    Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31. During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation. […]

  • The Rose Bette Midler

    Bette Midler Film 'The Rose' to Be Adapted On Broadway

    Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31. During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation. […]

  • John Conboy and Donna MillsArchive PhotosJune

    John Conboy, Producer of 'The Young and the Restless,' 'Guiding Light,' Dies at 83

    Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31. During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation. […]

  • Bill Cosby to Hold Comedy Show

    Bill Cosby Announces Comedy Show Ahead of Sexual Assault Retrial

    Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31. During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation. […]

  • Grammys Open New York Chapter Office

    Grammys Hold Ribbon-Cutting Ceremony for New York Townhouse With Mayor de Blasio, Neil Portnow

    Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31. During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation. […]

  • THE TONIGHT SHOW STARRING JIMMY FALLON

    Childish Gambino Signs With RCA, New Music on the Way

    Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31. During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation. […]

  • Bleachers' Jack Antonoff

    Jack Antonoff, Bleachers Frontman and Taylor Swift-Lorde Collaborator, Extends Deal With Sony/ATV

    Station group behemoth Paxson Communications has reported that after its first full year since the launch of Pax TV, the company has achieved “breakeven results” for the quarter ended Dec. 31. During the fourth quarter, the company posted an operating profit of $800,000, excluding time brokerage and affiliation fees, depreciation and amortization and stock-based compensation. […]

More From Our Brands

Access exclusive content