Paxson Communications Corp. said Tuesday that it had sold KPXJ in Shreveport, La., to its joint sales agreement partner KTBS Inc. KTBS will buy the station for $10 million in cash. The station sale,
subject to regulatory approvals, is expected to close by early fall. Shreveport, La., is the nation's 81st largest television market. Paxson Chairman/CEO Lowell Paxson said the transaction
demonstrated the "keen interest" in Paxson's broadcast stations following the FCC's relaxation of ownership rules.