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Paxson sells KAPX

Paxson Communications Corp. has agreed to sell, subject to Federal Communications
Commission approval, KAPX-TV Albuquerque, N.M., to Univision Communications Inc.'s TeleFutura Television
Group for $20 million in cash.

The sale, Paxson chairman Lowell "Bud" Paxson said, concludes the company's
successful effort, begun in fall 2002, to sell $100 million in station assets in order to
increase liquidity.