Bud Paxson Net Worth is$400 Million
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Profession: Television executive
Country: United States of America
Bud Paxson was born in Florida and has an estimated net worth of $400 million dollars. A businessman and media executive, Bud Paxson began his career in radio and quickly discovered the untapped potential that on-air sales represented. He and fellow broadcaster Bob Circosta created a cable television channel for on-air sales that eventually became the widely successful Home Shopping Network.
Lowell W. "Bud" Paxson is an American media executive.
A native of Florida, Paxson began his career at a little 500 watt radio station in upstate New York, and later as the owner of a small AM radio station, WWQT 1470 AM, in Clearwater, Florida. There, in 1977, an advertiser had plenty of product to sell-avocado-green-colored can openers-but ran out of funds to purchase airtime. Paxson instructed talk-show host Bob Circosta, who had a talk show from noon until 3:00 PM, to sell the can openers live over the airwaves, and both men were stunned at the audience response. All 112 can openers were purchased within the hour on August 28, 1977. This started the Suncoast International Bargainers Club.
Sensing the sales potential of live, on-air product selling, Paxson and financier Roy Speer co-founded a local cable TV channel (channel 52 on Vision Cable) in 1982 that sold products directly to Florida viewers, and then launched nationwide in 1985. The channel was the Home Shopping Club, later Home Shopping Network, and Paxson's former radio man Bob Circosta was tapped as the network's first-ever host. HSN soon became a billion dollar juggernaut and began the home shopping / electronic retailing industry. In 1996, the two sold HSN to Hollywood executive Barry Diller.
Paxson then formed Paxson Communications and bought radio stations, TV stations, and billboards, primarily in Florida. Eventually, he sold those and put the money into PAX TV, a new network of family-friendly TV shows. The channel also reflected Paxson's background as an evangelical Christian (since 1985), which he spoke of openly. PAX TV began on August 31, 1998.
During the time between the sale of HSN and the founding of PAX TV, Paxson moved his headquarters from Tampa to West Palm Beach.
However, the network never received anywhere near the ratings or advertising revenue of the other networks. In addition, PAX TV lost a few affiliates, such as when Paxson sold its Dayton, Ohio, and Green Bay, Wi

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Bud Paxson Latest News

Bud Paxson, Station Owner And HSN Co-Founder, Dies At 80

LOWELL WHITE "BUD" PAXSON, who built a broadcasting empire from a small station in upstate NEW YORK to the creation of the HOME SHOPPING NETWORK, PAX TV, and a radio group in FLORIDA's largest markets ...
Posted: January 12, 2015, 3:59 am

The Evolution Of Home Shopping, From Radio To Live Streams

Lowell W. “Bud” Paxson, the owner of a radio station in Florida, had a challenge one day in the 1970s: He was short on money and payday was approaching. Paxson decided to pay a visit to one of his ...
Posted: February 11, 2019, 8:05 am

ION Media To Move To One WTC

The parent of three television networks originally founded by former radio station owner Bud Paxson is relocating its New York City broadcast operations to One World Trade Center in lower Manhattan. ...
Posted: May 9, 2017, 10:39 am
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