Lowell “Bud” Paxson, Co-Founder of the Home Shopping Network and Founder of Paxson Communications Corporation, is a media industry pioneer whose crowning achievement was the creation of PAX TV, which he grew to be the nation’s largest group of owned and operated television stations. PAX TV was sold to NBC in November 2005.
Through the Home Shopping Network and Silver King Communications, Paxson built a television empire and created the electronic shopping industry. From 1991 to 1997, he assembled a 46 station radio empire and in June 1997, Paxson Communications sold its radio interest to Clear Channel Communications and he turned his focus to television. Paxson grew up in Rochester, New York, where as a teenager he held his first job in radio, retrieving records and coffee for disc jockeys. During his four years at Syracuse University, he was a radio announcer at several local stations.
The purchase of a radio station in Newark, New York, in 1956, marked the beginning of Paxson’s experience as a station owner. In 1977 Paxson began selling merchandise on a Florida AM radio station. Out of that experience grew the concept of the Home Shopping Network, which Paxson founded in 1982. By 1985, consumer response to electronic shopping was enthusiastic enough for Paxson to take Home Shopping Network national and create a public company, and in 1986, Paxson established the Silver King Communications group of broadcast television stations, growing the group to twelve stations, eight of which are in the top ten U.S. markets.
In 1990, Paxson sold his interest in HSN and Silver King and returned to radio. Paxson went public in November 1994, through a reverse merger with the American Network Group, Inc., and subsequently moved the new company, Paxson Communications Corporation to the American Stock Exchange.
Paxson will speak on his extensive business career and the influence his faith in Jesus Christ has made on the decisions and directions of his life.