PAX racks up N.M. sale

Co. owns 63 TV stations nationwide

NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M.

TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households.

West Palm Beach, Fla.-based Paxson, which owns 63 full-power TV stations nationwide, is widely expected to become a ripe takeover prospect in the wake of FCC deregulation.

The Pax program network says it will replace the coverage with cable and satellite in the Albuquerque market.

Paxson chairman-CEO Lowell “Bud” Paxson said the company’s recent station transactions “have continued to demonstrate that we’re capitalizing on strong valuations for our television stations. With this sale of the Albuquerque station for a purchase price of $20 million, we’ve completed our liquidity plan and now have over $100 million of cash on hand.”

Univision’s pending acquisition of leading Spanish radio group Hispanic Broadcasting is still being scrutinized by the FCC.

More TV

  • Arrow

    'Arrow': Echo Kellum Teases the New Team Arrow in Midseason Premiere

    NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M. TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households. West Palm Beach, Fla.-based Paxson, which […]

  • The CW Logo

    CW Beefs Up Development Team Under Gaye Hirsch With Two Promotions, New Hire

    NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M. TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households. West Palm Beach, Fla.-based Paxson, which […]

  • Rupert Murdoch

    Rupert Murdoch Recovering After Suffering Back Injury While Sailing

    NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M. TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households. West Palm Beach, Fla.-based Paxson, which […]

  • Samantha Bee Aziz Ansari

    Samantha Bee Weighs in on Aziz Ansari Controversy: 'It Doesn't Have to Be Rape to Ruin Your Life'

    NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M. TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households. West Palm Beach, Fla.-based Paxson, which […]

  • The Walking Dead Season 7 Mid

    Frank Darabont Sues AMC Again in 'Walking Dead' Pay Dispute

    NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M. TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households. West Palm Beach, Fla.-based Paxson, which […]

  • 'Party of Five' Reboot Scores Put

    'Party of Five' Reboot Scores Put Pilot Order at Freeform

    NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M. TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households. West Palm Beach, Fla.-based Paxson, which […]

  • Gabrielle Carteris SAG AFRA PRESIDENT

    SAG-AFTRA President Gabrielle Carteris Talks State of the Union

    NEW YORK — Getting a jumpstart on post-deregulatory broadcast station trading, upstart Spanish-lingo net TeleFutura has closed on its $20 million purchase of Paxson Communications’ TV station in Albuquerque, N.M. TeleFutura is a wholly owned subsid of Spanish network giant Univision and currently reaches 75% of U.S. Hispanic households. West Palm Beach, Fla.-based Paxson, which […]

More From Our Brands

Access exclusive content