Good article...as long as you are not a pax stockholder. The article brings up some issues: Without NBC, how will PAX make money.
I disagree that no major company would buy nbc's stake. The question is would NBC sell it, and if it does, what happens to nbc's sales force.
PAX could come up with $400mil, via loan
Many companies would want PAX...MGM and universal come to mind.
Second point...during the conference call, they called that new blind FBI show a hit...and the article kind of laughlingly pointed that out.
The execs continue to lie in this type of way on a consistent basis. The article correctly pointed out: "it was a hit in the PAX universe"
The article leads me to an obvious conclusion: They are a cable channel that has broadcast rights. Several options: 1) Sell the station group assuming they can get all the cable channels to still pickup PAX 2) Do what YUM did. Pax could sell alot of the stations to companies that are interested in carrying PAX. That way, pax gets the cash from the transaction and gets a franchise fee for a company carrying pax (maybe far feched) 3) Sell another 30% to another company like fox that way PAX owns 30%, NBC owns 30%, and company x owns 30%
One thing I did not like in the article is that they asked people their opinion on pax without any qualifications.