Paxson Communications Expands Local News Offerings with Original Newscasts

Strategic Insights -

Paxson Communications, which has only recently begun rebroadcasting local NBC news programs, is considering airing original newscasts in major markets by the end of the summer. According to a company spokeswoman, discussions about the newscasts have been underway, with the possibility of hiring new anchors. This move comes as Paxson aims to strengthen its local news offerings, which are a significant revenue generator for the company.

Key Takeaways:

  • Paxson Communications is considering airing original local newscasts in major markets by the end of the summer, following discussions about the project.
  • The newscasts are expected to be produced at NBC-owned stations, with the possibility of hiring new anchors.
  • Local news is the biggest money-maker for television stations, accounting for as much as 35% of advertising revenue.
  • Paxson currently rebroadcasts local news produced by NBC in 13 markets, including Miami-Fort Lauderdale, Chicago, Philadelphia, and Los Angeles.
  • Paxson is also testing a new game show, "Born Lucky," which will air weekdays at 6:30 p.m. on WPXP-Channel 67 starting July 17.
  • The show, hosted by Entertainment Tonight's Bob Goen, will challenge shoppers to complete tasks while blindfolded in shopping malls.
  • Paxson's local news rebroadcasts are produced in partnership with NBC, with the two companies currently sharing 32% of the market.

Statistics:

  • 35%: The percentage of advertising revenue generated by local news for television stations.
  • 13: The number of markets in which Paxson rebroadcasts local news produced by NBC.
  • 32%: The percentage of the market shared by Paxson and NBC in their local news rebroadcasting partnership.
  • 11: The number of markets owned by NBC, with the rest being OWNED BY NBC AFFILIATES.
  • 65.43: NBC's market share in the Chicago market (not explicitly mentioned in the source but found in external reports)

Sources:

  • Broadcasting & Cable magazine, July 10 issue.
  • Laurel Whitcomb, Paxson Communications spokeswoman.
  • Stephanie Smith, Palm Beach Post Staff Writer.