PAX TV Enters Into Joint Sales Agreements With Gannett Co., Inc.'s NBC-Affiliated Stations

Business Wire, Oct 12, 2000

Business & Entertainment Editors

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Oct. 12, 2000

-- JSAs Completed in Atlanta, Minneapolis, Cleveland, Denver,

Buffalo & Portland, ME --

Paxson Communications Corporation (AMEX:PAX) announced today that it has entered into Joint Sales Agreements (JSAs) with six NBC-affiliated television stations owned by Gannett Co., Inc. (NYSE:GCI), a major international media company whose interests encompass newspaper, television, the Internet and new media. Gannett, which has delivered record-breaking revenues and earnings in recent years, owns 22 television stations in 19 markets and its flagship newspaper, USA Today is the nation's largest-selling daily newspaper.

This agreement between Gannett's NBC affiliated stations and PAX TV's stations will provide a sales and marketing infrastructure for the local PAX TV stations. Additionally, as with many other JSAs, PAX will re-broadcast the NBC affiliated station's local newscasts. JSAs will be made between the following NBC-affiliated stations and PAX-affiliated stations: Atlanta, WXIA-TV Channel 11 and PAX's WPXA TV-14; Minneapolis's, KARE-TV Channel 11 and KPXM TV-41; Cleveland's WKYC-TV Channel 3 and WVPX TV-23; Denver's KUSA-TV Channel 9 and KPXC TV-59; Buffalo's WGRZ-TV, Channel 2 and with WPXJ TV-51 and Portland, Maine's WCSH-TV Channel 6 and WMPX TV-23. To date PAX has implemented a total of 27 JSAs, 44% of which are in the top 20 markets and 52% within the top 30 markets.

Dean Goodman, President of PAX TV, said, "This agreement is a significant milestone for PAX's sales strategy rollout with Gannett, the largest NBC affiliate station group. We expect PAX's sales to be significantly enhanced by Gannett's long-term advertising agency relationships and strong sales performance."

Roger Ogden, Senior Vice President, Gannett Television and President and General Manager, K*USA-TV, said, "We are pleased to have reached an agreement for six of our NBC stations to participate in a joint sales agreement with the PAX TV stations in their markets. The key to the agreement is the strength of our news operations in these markets where the repurposed newscasts on the PAX stations represent a real opportunity for Gannett and PAX."

"This is a win-win for NBC, Gannett and Paxson," said Randy Falco, President, NBC Televisions Network. "Gannett's sales organization and local newscasts will bring real strength to the PAX stations in these markets while Gannett has a terrific opportunity to grow revenues and extend its brand further into the local markets."

About Paxson Communications Corporation

Paxson Communications Corporation owns and operates the nation's largest broadcast television station group and PAX TV, the newest broadcast television network. PAX, the national family entertainment network, reaches 81% of U.S. television households via nationwide broadcast television, cable and satellite distribution systems. Through the company's strategic relationship with NBC, the two networks recently shared the premiere of the new dramatic series "Mysterious Ways" from July to mid-September. The series continues every Tuesday this fall on PAX, together with other original 8:00 p.m. (ET/PT) series such as "Twice In A Lifetime," "It's A Miracle" and "Encounters with the Unexplained." For more information, visit PAX TV's website at www.pax.tv.

About Gannett Co., Inc

Gannett owns 22 television stations reaching 17.5 percent of the U.S. television market. Gannett Television's stations are: W*USA (CBS-Washington, DC); WXIA (NBC-Atlanta); KARE (NBC-Minneapolis); WTSP (CBS-Tampa); WKYC (NBC-Cleveland); KPNX (NBC-Phoenix), KNAZ (NBC-Flagstaff), KMOH (NBC-Kingman); K*USA (NBC-Denver); KXTV (ABC-Sacramento); KSDK (NBC-St. Louis); WZZM (ABC-Grand Rapids); WGRZ (NBC-Buffalo); WFMY (CBS-Greensboro); WJXX (ABC-Jacksonville), WTLV (NBC-Jacksonville), KTHV (CBS-Little Rock); WBIR (NBC-Knoxville); WCSH (NBC-Portland); WLTX (CBS-Columbia); WMAZ (CBS-Macon); and WLBZ (NBC-Bangor). In addition to its television operations, Gannett publishes 99 daily newspapers in the USA, including USA TODAY, the nations largest-selling daily newspaper. The company also publishes USA WEEKEND, a newspaper magazine. In the United Kingdom, Gannett subsidiary Newsquest plc publishes nearly 300 titles, including 15 daily newspapers.

This press release contains "forward-looking statements," within the meaning of federal securities laws, that involve risks and uncertainties. All statements herein, other than those consisting solely of historical facts, that address activities, events or developments that the Company expects or anticipates will or may occur in the future including such things as business strategy, measures to implement strategy, competitive strengths, goals, expectations is subject to a number of risks and uncertainties and important factors that could cause actual results, events and developments to differ materially from those referenced in, contemplated by or underlying any forward-looking statements herein, including, among others, the continued development and viability of the Company's television operations, the Company's ability to manage its growth, the Company's high level of references to future success and other events may be forward-looking statements. Statements herein are based on certain assumptions and analysis made by the Company in light of its experience and its perception of historical trends, current conditions and potential future developments, as well as other factors it believes are appropriate in the circumstances. However, whether actual results, events and developments will conform with the Company's indebtedness, restrictions imposed on the Company by the terms of its indebtedness and preferred stock, the impact of government regulations, industry and economic conditions, competition, changes in operating expenses, industry and economic conditions and other factors, many of which are beyond the control of the Company. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized.