November 8, 2005
Paxson Communications Corporation appoints R. Brandon Burgess Chief Executive Officer and a director of the company.
On November 7, Paxson Communications Corporation announced that its Board of Directors has appointed R. Brandon Burgess Chief Executive Officer and a director of the company. Mr. Burgess, who is represented by Willkie, most recently served as Executive Vice President of Business Development & International Channels for NBC Universal, which owns a 32% stake in Paxson. He succeeds Lowell W. Paxson, who resigned as Chairman and Chief Executive Officer and was named Chairman Emeritus. The agreement requires NBC Universal to either acquire or find a third party to acquire Paxson within 18 months. Paxson Communications owns and operates the nation's largest broadcast television station group, reaching 83% of U.S. television households via nationwide broadcast television, cable and satellite distribution systems. Willkie partners Gordon Caplan and Frank Daniele, and associate David Rubinsky represented Mr. Burgess in this complex restructuring agreement.