(November 14, 2003) New York, NY--NBC has asked Paxson Communications to buy out the network's $549 million stake in the company. According to a recent article about the possible buyout in the "New York Post," Paxson said it is under no obligation to meet NBC's request, and that it may keep NBC's investment or decide on or after September 15, 2004 to redeem the shares. NBC has stated Paxson is obligated to purchase its stake.
NBC
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Paxson Communications
www.paxson.com
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