Paxson not at peace with NBC: Says Telemundo acquisition would violate Paxson-NBC strategic alliance. (Programming).(Brief Article)

Broadcasting & Cable, December, 2001 by McClellan, Steve

NBC's proposed acquisition of Telemundo is the last straw, says Paxson Communications Corp. CEO Jeff Sagansky, citing a string of actions by the peacock network that, he says, violate both the letter and spirit of the 32% ownership stake that NBC agreed to in 1999. NBC officials say that's a bunch of baloney, contending that Paxson is simply trying to extricate itself from a legally binding agreement that no longer suits its purposes.

And they wonder whether Paxson's legal steps toward possibly dissolving the alliance are motivated at least in part by Paxson's not wanting to share what might he a pretax windfall of dose to $15 billion from an auction of the 700 MHz band next year. Last week, Paxson initiated an arbitration proceeding and a request...

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