In a Securities and Exchange Commission filing last month, the West Palm Beach-based television broadcaster, which is working to change its name to Ion Media Networks, described DirecTV's steps to terminate its affiliation agreement with Paxson (AMEX: ION).
A new SEC filing shows DirecTV agreed, Friday, to delay that termination or any court action until April 14. Paxson said the postponement would allow it and DirecTV additional time to settle their dispute.
"We are currently negotiating with DirecTV in an effort to resolve this matter and maintain the distribution of our programming to DirecTV's subscribers," Paxson said in its filing.
Paxson has been affiliated with DirecTV, a satellite television carrier, since September 2002. Under that agreement, Paxson said DirecTV provides Paxson's network programming to substantially all its subscribers.
DirecTV has argued Paxson's present programming violates the content restrictions of the affiliation agreement. That programming changed in June, when Paxson changed its network's name to i from Pax TV.
At the time Paxson said the change in brand reflected its new network programming strategy - to provide an independent broadcast platform for producers and syndicators who desire to reach a national audience.
Back when it was PAX TV, the company had described its programming as family friendly.
Shares closed down about a penny to nearly 92 cents. The 52-week high was $1.56 on April 6, 2005. The 52-week low was 37 cents on Nov. 2.
http://southflorida.bizjournals.com/southflorida/stories/2006/04/03/daily34.html
A new SEC filing shows DirecTV agreed, Friday, to delay that termination or any court action until April 14. Paxson said the postponement would allow it and DirecTV additional time to settle their dispute.
"We are currently negotiating with DirecTV in an effort to resolve this matter and maintain the distribution of our programming to DirecTV's subscribers," Paxson said in its filing.
Paxson has been affiliated with DirecTV, a satellite television carrier, since September 2002. Under that agreement, Paxson said DirecTV provides Paxson's network programming to substantially all its subscribers.
DirecTV has argued Paxson's present programming violates the content restrictions of the affiliation agreement. That programming changed in June, when Paxson changed its network's name to i from Pax TV.
At the time Paxson said the change in brand reflected its new network programming strategy - to provide an independent broadcast platform for producers and syndicators who desire to reach a national audience.
Back when it was PAX TV, the company had described its programming as family friendly.
Shares closed down about a penny to nearly 92 cents. The 52-week high was $1.56 on April 6, 2005. The 52-week low was 37 cents on Nov. 2.
http://southflorida.bizjournals.com/southflorida/stories/2006/04/03/daily34.html
