Paxson Communications Corporation Chairman, Lowell BudPaxson Receives 1999 ``Entrepreneur of the...

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--April 16, 1999--

Florida Atlantic University's Honor Includes Induction Into

"Society of Entrepreneurs"

Paxson Communications Corporation (AMEX:PAX) announced today that Chairman Lowell W. Paxson was the recipient of the 1999

"Entrepreneur of the Year" Award by Florida Atlantic University. This prestigious honor also includes his induction into FAU's College of Business' "Society of Entrepreneurs." The ceremony was held Thursday, April 15, 1999 at the Boca Raton Resort & Club, Boca Raton, Florida in the Great Hall involving a breakfast with over 550 attendees.

On receiving this esteemed honor, Mr. Paxson said, "I am extremely honored to be recognized as the recipient of the "Entrepreneur of the Year" Award. I feel fortunate that my efforts with Paxson Communications have been successful, and that my personal success is as a result of something much bigger, PAX TV, that I hope will have a positive impact on the lives of many families and their future. I believe that the highest goal for business is to bring something better to the world at large, and my own greatest hope is that PAX TV will continue to entertain and motivate others to follow their own dreams."

Lowell "Bud" Paxson, Paxson's Chairman and majority shareholder, has been involved in the broadcasting industry for over forty years. He is the creator and co-founder of the Home Shopping Network, Inc. and Silver King

Communications, Inc. Mr. Paxson is recognized as a visionary who has continually demonstrated an ability to anticipate trends and changes in broadcasting's regulatory environment. Mr. Paxson's previous accomplishments include building the largest media company in Florida, comprised of radio stations and radio networks as well as regional outdoor advertising. With the divestiture of the company's radio and billboard assets, he focused on the development of PAX TV. He has assembled a broad and experienced team of television executives to implement the Company's business plans including the strategic acquisition of television stations across the country, leveraging the company's ownership position to deliver family-oriented programming and developing a new model for ad sales based on local market orientation.

The FAU award program is a celebration of the contribution made by visionaries and risk-takers to the vibrancy of the free enterprise system and the enhancement of the quality of life in the community. This venue provides business leaders representing all sectors of the local economy to network and interact with one another; it also provides the College of Business a chance to inform the public about the diversity of its educational programs and their impact on the private sector.

Upon completion of pending transactions, the PAX TV Network will include 116 broadcast television stations, consisting of 71 stations which are owned and operated by the Company, or in which the Company has an economic interest, and 45 non-owned or operated PAX TV affiliates. A complete listing of stations and markets served can be found by visiting the company's web-site at paxtv.com.

Paxson Communications Corporation owns and operates the nation's seventh and newest broadcast network. With its nationwide broadcast television and cable distribution system, Paxson airs PAX TV, the national family entertainment network. The foundation of the network's prime-time schedule includes the off-network hit series Touched By An Angel, Dr. Quinn, Medicine Woman, and Diagnosis Murder. Original programming includes Flipper: The New Adventures, Louisa May Alcott's Little Men series, It's a Miracle and Great Day America. Additionally, the line-up includes Christy, The Father Dowling Mystery Series, Highway To Heaven, Bonanza, Eight Is Enough and Life Goes On, as well as original specials and theatrical and made-for-television movies.

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, 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 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 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.