Paxson Delays Release of Q3 Results

Nov 8, 2004  •  Post A Comment

Shares in Paxson Communications fell 8 percent Monday after the company announced it would be postponing indefinitely its release of third-quarter results.

The financials, which were set to be released Monday afternoon, have been put off while Paxson said it will “make use of additional time necessary to further evaluate certain non-cash issues related to its third quarter 2004 financial results.” The company didn’t elaborate beyond that and gave no time frame for how long the delay would be.

Paxson shares closed down 9 cents to $1.06 a share Monday.

Amid the delay in releasing earnings, Paxson is also embroiled in a battle with NBC Universal over whether it is required to redeem a stake NBC purchased in Paxson five years ago.