Four large TV group owners are devising plan to assure FCC exactl...

lunch Wed. in Washington, he parried all reporters’ questions about what plan would entail, saying: “I'll get this plan to you when we finish it” in 2-4 weeks. In answer to another question, he said “it'll all come out in the plan.” He identified other licensees involved as Univision, Shop at Home and Pappas Telecasting -- which, Paxson said, represented more than 40% of 136 stations currently assigned to analog Ch. 60-69 which are to be auctioned to nonbroadcast users. Saying FCC Chmn. Powell had referred to upcoming switch to DTV as “a train wreck,” Paxson said to Powell (who wasn’t in audience): “You're the engineer now. Get us back on track.” Paxson said FCC’s recent rulemaking on DTV issues (CD Jan 22 p1) indicated agency was asking for direction from Congress. He urged Commission to hold hearings on transition to digital rather than solicit more comments. He said Pax TV Network was in black after 27 months of operation -- primarily due to help of NBC, although he didn’t mention that network -- while he said WB and UPN continued to lose money after several years of operation. Meanwhile, Moody’s (citing help from NBC) issued “outlook stable” notice on Paxson’s $122 million credit facility and $230 million in 11.625% notes, both due next year.