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<TITLE>PAXSON COMMUNICATIONS CORPORATION FORM S-8</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">As filed with the Securities and
Exchange Commission on June&nbsp;3, 2003</FONT>

<P align="right"><FONT size="2">Registration No. ____________</FONT>

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<P align="center"><FONT size="4">SECURITIES AND EXCHANGE COMMISSION</FONT>

<div align="center"><FONT size="3">Washington, D.C. 20549</FONT></div>

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<P align="center"><FONT size="5">FORM S-8<BR>
REGISTRATION STATEMENT</FONT>

<div align="center"><FONT size="2">Under The Securities Act of 1933</FONT></div>

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<P align="center"><FONT size="6">PAXSON COMMUNICATIONS CORPORATION</FONT>

<div align="center"><FONT size="2">(Exact name of registrant as specified in its charter)</FONT></div>

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    <TD align="center" valign="top"><FONT size="2"><B>Delaware</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>59-3212788</B></FONT></TD>
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    <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
(I.R.S. Employer Identification No.)</FONT></TD>
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    <TD align="center" valign="top"><FONT size="2">of incorporation or organization)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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    <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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    <TD align="center" valign="top"><FONT size="2"><B>601 Clearwater Park Road, West Palm Beach, Florida</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>33401</B></FONT></TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">(Address of Principal Executive Office)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
(Zip Code)</FONT></TD>
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<P align="center"><FONT size="2"><B>PAXSON COMMUNICATIONS CORPORATION<BR>
1998 STOCK INCENTIVE PLAN</B><BR>
(Full title of the plan)</FONT>

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<P align="center"><FONT size="2"><B>Anthony L. Morrison, Esq.<BR>
Executive Vice President, Chief Legal Officer and Secretary<BR>
Paxson Communications Corporation<BR>
601 Clearwater Park Road<BR>
West Palm Beach, Florida 33401</B><BR>
(Name and address of agent for service)</FONT>

<P align="center"><FONT size="2"><B>(561)&nbsp;659-4122</B><BR>
(Telephone number, including area code, of agent for service)</FONT>

<P align="center"><FONT size="2">Copies of all communications to:</FONT>

<P align="center"><FONT size="2"><B>David L. Perry, Jr.<BR>
Holland &#038; Knight LLP<BR>
222 Lakeview Avenue, Suite&nbsp;1000<BR>
West Palm Beach, Florida 33401</B></FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the securities being registered on this Form are to be offered
on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act
of 1933, check the following box.&nbsp;&nbsp;&nbsp;<font face="wingdings">&#111;</font>
</FONT>
<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>

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    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
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    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
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    <TD nowrap align="center"><FONT size="1"><B>Title of</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Amount</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>offering</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Amount of</B></FONT></TD>
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<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>securities</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>to be</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>price</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>aggregate</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>registration</B></FONT></TD>
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<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>to be registered</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>registered(1)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>per share*</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>offering price*</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>fee</B></FONT></TD>
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<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
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    <TD valign="top"><FONT size="2">Class&nbsp;A Common Stock,
par value $.001 per share</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="bottom"><FONT size="2">
2,800,000 shares
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">6.51</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">18,228,000</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="bottom"><FONT size="2">$1,474.65</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">This Registration Statement also covers any additional shares that may
hereafter become purchasable as a result of the adjustment provisions in the
Plan or the agreement pursuant to which such shares are issued.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">*</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee.
Pursuant to Rule&nbsp;457(h) under the Securities Act of 1933, the fee is
calculated upon the basis of the average between the high and low sales
prices for shares of Class&nbsp;A Common Stock of the registrant as reported on
the American Stock Exchange on May&nbsp;28, 2003.</FONT></TD>
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<P align="center"><FONT size="2">&nbsp;</FONT>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000"> PART II INFORMATION REQUIRED IN REGISTRATION STATEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Power of Attorney</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="g83224exv5w1.htm">OPINION OF HOLLAND & KNIGHT LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="g83224exv23w2.htm">CONSENT OF PRICEWATERHOUSECOOPERS LLP</A></TD></TR>
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<!-- link1 " PART II INFORMATION REQUIRED IN REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART II<BR>
INFORMATION REQUIRED IN REGISTRATION STATEMENT</B></FONT>

<P align="left"><FONT size="2"><B>EXPLANATORY NOTE.</B></FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement is being filed, in accordance with General
Instruction E to Form&nbsp;S-8, to register an additional 2,800,000 shares of Class
A Common Stock, par value $.001 per share, for issuance under the Paxson
Communications Corporation 1998 Stock Incentive Plan, as amended. The contents
of the Registrant&#146;s Registration Statement on Form&nbsp;S-8, No.&nbsp;333-72623, are
incorporated by reference in this registration statement.
</FONT>
<P align="left"><FONT size="2"><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.</B></FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Commission by the Registrant,
Paxson Communications Corporation, a Delaware corporation, are incorporated by
reference in this Registration Statement:
</FONT>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(a)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The Registrant&#146;s Annual Report on Form&nbsp;10-K for the year
ended December&nbsp;31, 2002, as filed with the Securities and Exchange
Commission on March&nbsp;31, 2003;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(b)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The Registrant&#146;s Quarterly Report on Form&nbsp;10-Q/A for the
quarter ended March&nbsp;31, 2002, as filed with the Securities and
Exchange Commission on March&nbsp;31, 2003;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(c)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The Registrant&#146;s Quarterly Report on Form&nbsp;10-Q/A for the
quarter ended June&nbsp;30, 2002, as filed with the Securities and
Exchange Commission on March&nbsp;31, 2003;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(d)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The Registrant&#146;s Quarterly Report on Form&nbsp;10-Q/A for the
quarter ended September&nbsp;30, 2002, as filed with the Securities and
Exchange Commission on March&nbsp;31, 2003;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(e)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for the
quarter ended March&nbsp;31, 2003, as filed with the Securities and
Exchange Commission on May&nbsp;15, 2003;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(f)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The Registrant&#146;s Current Report on Form&nbsp;8-K that was filed
with the Securities and Exchange Commission on April&nbsp;11, 2003;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(g)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The Registrant&#146;s Current Report on Form&nbsp;8-K that was filed
with the Securities and Exchange Commission on May&nbsp;30, 2003;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(h)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">The description of the Registrant&#146;s Class&nbsp;A Common Stock
contained in its Registration Statement on Form&nbsp;8-A filed with the
Commission on June&nbsp;30, 1995, file number 1-13452; and</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(i)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">All documents subsequently filed by the Registrant pursuant
to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to
the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated
by reference in this Registration Statement and to be part hereof
from the date of filing of such documents.</FONT></TD>
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<P align="left"><FONT size="2"><B>ITEM 8. EXHIBITS.</B></FONT>

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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">5.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Opinion of Holland &#038; Knight LLP</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">23.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Consent of Holland &#038; Knight LLP (included in Exhibit&nbsp;5.1)</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">23.2</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Consent of PricewaterhouseCoopers LLP</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">24.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Powers of Attorney (included on signature page)</FONT></TD>
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<P align="center"><FONT size="2">&nbsp;</FONT>
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<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of West Palm Beach, State of Florida, on
June&nbsp;3, 2003.
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2" align="left" valign="top"><FONT size="2">
<B>PAXSON COMMUNICATIONS CORPORATION</B></FONT></TD>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">By:</FONT></TD>
    <TD colspan="2"><FONT size="2"> /s/ Lowell W. Paxson</FONT></TD>
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    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2" align="left" valign="top"><FONT size="2">
Name: Lowell W. Paxson</FONT></TD>
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<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="2" align="left" valign="top"><FONT size="2">
Title: Chairman of the Board, Director and Chief Executive Officer</FONT></TD>
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<!-- link1 "Power of Attorney" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>Power of Attorney</B></FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the undersigned officers and directors of PAXSON COMMUNICATIONS
CORPORATION (the &#147;Company&#148;), a Delaware corporation, for himself and not for
one another, does hereby constitute and appoint ANTHONY L. MORRISON and ADAM K.
WEINSTEIN, and each and either of them and his substitutes, a true and lawful
attorney in his name, place and stead, in any and all capacities, to sign his
name to any and all amendments to this registration statement, including
post-effective amendments, and to cause the same to be filed with the
Securities and Exchange Commission, granting unto said attorneys and each of
them full power of substitution and full power and authority to do and perform
any act and thing necessary and proper to be done in the premises, as fully to
all intents and purposes as the undersigned could do if personally present, and
each of the undersigned for himself hereby ratifies and confirms all that said
attorneys or any one of them shall lawfully do or cause to be done by virtue
hereof.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.</B>
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    <TD width="8%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Signatures</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Date</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>

<tr>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</tr>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ LOWELL W. PAXSON<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Chairman of the Board, Director and Chief Executive Officer (Principal Executive Officer)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">Lowell W. Paxson</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ JEFFREY SAGANSKY<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Vice Chairman of the Board and Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">Jeffrey Sagansky</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>


<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ THOMAS E. SEVERSON, JR.<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">Thomas E. Severson, Jr.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>


<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ RONALD L. RUBIN<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Vice President, Chief Accounting Officer and Corporate Controller (Principal Accounting Officer)
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">Ronald L. Rubin</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ BRUCE L. BURNHAM<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">Bruce L. Burnham</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>


<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ JAMES L. GREENWALD<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">James L. Greenwald</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>


<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ JOHN E. OXENDINE<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">John E. Oxendine</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>


<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ HENRY J. BRANDON<BR>
</FONT><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">June 3, 2003</FONT></TD>
</TR>

<TR valign="top">
    <TD align="center" valign="top"><FONT size="2">Henry J. Brandon</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD nowrap align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>INDEX TO EXHIBITS</B></FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">5.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Opinion of Holland &#038; Knight LLP</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">23.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Consent of Holland &#038; Knight LLP (included in Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">23.2</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Consent of PricewaterhouseCoopers LLP</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">24.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="90%"><FONT size="2">Powers of Attorney (included on signature page)</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">&nbsp;</FONT>



</BODY>
</HTML>
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PAXSON COMMUNICATIONS CORPORATION FORM S-8
Table of Contents
As filed with the Securities and
Exchange Commission on June 3, 2003
Registration No. ____________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under The Securities Act of 1933
PAXSON COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
59-3212788
(State or other jurisdiction
(I.R.S. Employer Identification No.)
of incorporation or organization)
601 Clearwater Park Road, West Palm Beach, Florida
33401
(Address of Principal Executive Office)
(Zip Code)
PAXSON COMMUNICATIONS CORPORATION
1998 STOCK INCENTIVE PLAN
(Full title of the plan)
Anthony L. Morrison, Esq.
Executive Vice President, Chief Legal Officer and Secretary
Paxson Communications Corporation
601 Clearwater Park Road
West Palm Beach, Florida 33401
(Name and address of agent for service)
(561) 659-4122
(Telephone number, including area code, of agent for service)
Copies of all communications to:
David L. Perry, Jr.
Holland & Knight LLP
222 Lakeview Avenue, Suite 1000
West Palm Beach, Florida 33401
If any of the securities being registered on this Form are to be offered
on a delayed or continuous basis pursuant to Rule 415 under the Securities Act
of 1933, check the following box.
o
CALCULATION OF REGISTRATION FEE
Proposed
maximum
Proposed
Title of
Amount
offering
maximum
Amount of
securities
to be
price
aggregate
registration
to be registered
registered(1)
per share*
offering price*
fee
Class A Common Stock,
par value $.001 per share
2,800,000 shares
$
6.51
$
18,228,000
$1,474.65
(1)
This Registration Statement also covers any additional shares that may
hereafter become purchasable as a result of the adjustment provisions in the
Plan or the agreement pursuant to which such shares are issued.
*
Estimated solely for the purpose of calculating the registration fee.
Pursuant to Rule 457(h) under the Securities Act of 1933, the fee is
calculated upon the basis of the average between the high and low sales
prices for shares of Class A Common Stock of the registrant as reported on
the American Stock Exchange on May 28, 2003.
TABLE OF CONTENTS
PART II INFORMATION REQUIRED IN REGISTRATION STATEMENT
SIGNATURES
Power of Attorney
INDEX TO EXHIBITS
OPINION OF HOLLAND & KNIGHT LLP
CONSENT OF PRICEWATERHOUSECOOPERS LLP
Table of Contents
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
EXPLANATORY NOTE.
This registration statement is being filed, in accordance with General
Instruction E to Form S-8, to register an additional 2,800,000 shares of Class
A Common Stock, par value $.001 per share, for issuance under the Paxson
Communications Corporation 1998 Stock Incentive Plan, as amended. The contents
of the Registrant's Registration Statement on Form S-8, No. 333-72623, are
incorporated by reference in this registration statement.
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents filed with the Commission by the Registrant,
Paxson Communications Corporation, a Delaware corporation, are incorporated by
reference in this Registration Statement:
(a)
The Registrant's Annual Report on Form 10-K for the year
ended December 31, 2002, as filed with the Securities and Exchange
Commission on March 31, 2003;
(b)
The Registrant's Quarterly Report on Form 10-Q/A for the
quarter ended March 31, 2002, as filed with the Securities and
Exchange Commission on March 31, 2003;
(c)
The Registrant's Quarterly Report on Form 10-Q/A for the
quarter ended June 30, 2002, as filed with the Securities and
Exchange Commission on March 31, 2003;
(d)
The Registrant's Quarterly Report on Form 10-Q/A for the
quarter ended September 30, 2002, as filed with the Securities and
Exchange Commission on March 31, 2003;
(e)
The Registrant's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2003, as filed with the Securities and
Exchange Commission on May 15, 2003;
(f)
The Registrant's Current Report on Form 8-K that was filed
with the Securities and Exchange Commission on April 11, 2003;
(g)
The Registrant's Current Report on Form 8-K that was filed
with the Securities and Exchange Commission on May 30, 2003;
(h)
The description of the Registrant's Class A Common Stock
contained in its Registration Statement on Form 8-A filed with the
Commission on June 30, 1995, file number 1-13452; and
(i)
All documents subsequently filed by the Registrant pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to
the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated
by reference in this Registration Statement and to be part hereof
from the date of filing of such documents.
ITEM 8. EXHIBITS.
5.1
Opinion of Holland & Knight LLP
23.1
Consent of Holland & Knight LLP (included in Exhibit 5.1)
23.2
Consent of PricewaterhouseCoopers LLP
24.1
Powers of Attorney (included on signature page)
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of West Palm Beach, State of Florida, on
June 3, 2003.
PAXSON COMMUNICATIONS CORPORATION
By:
/s/ Lowell W. Paxson
Name: Lowell W. Paxson
Title: Chairman of the Board, Director and Chief Executive Officer
Power of Attorney
Each of the undersigned officers and directors of PAXSON COMMUNICATIONS
CORPORATION (the "Company"), a Delaware corporation, for himself and not for
one another, does hereby constitute and appoint ANTHONY L. MORRISON and ADAM K.
WEINSTEIN, and each and either of them and his substitutes, a true and lawful
attorney in his name, place and stead, in any and all capacities, to sign his
name to any and all amendments to this registration statement, including
post-effective amendments, and to cause the same to be filed with the
Securities and Exchange Commission, granting unto said attorneys and each of
them full power of substitution and full power and authority to do and perform
any act and thing necessary and proper to be done in the premises, as fully to
all intents and purposes as the undersigned could do if personally present, and
each of the undersigned for himself hereby ratifies and confirms all that said
attorneys or any one of them shall lawfully do or cause to be done by virtue
hereof.
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated.
Signatures
Title
Date
/s/ LOWELL W. PAXSON
Chairman of the Board, Director and Chief Executive Officer (Principal Executive Officer)
June 3, 2003
Lowell W. Paxson
/s/ JEFFREY SAGANSKY
Vice Chairman of the Board and Director
June 3, 2003
Jeffrey Sagansky
/s/ THOMAS E. SEVERSON, JR.
Senior Vice President and Chief Financial Officer (Principal Financial Officer)
June 3, 2003
Thomas E. Severson, Jr.
/s/ RONALD L. RUBIN
Vice President, Chief Accounting Officer and Corporate Controller (Principal Accounting Officer)
June 3, 2003
Ronald L. Rubin
/s/ BRUCE L. BURNHAM
Director
June 3, 2003
Bruce L. Burnham
/s/ JAMES L. GREENWALD
Director
June 3, 2003
James L. Greenwald
/s/ JOHN E. OXENDINE
Director
June 3, 2003
John E. Oxendine
/s/ HENRY J. BRANDON
Director
June 3, 2003
Henry J. Brandon
Table of Contents
INDEX TO EXHIBITS
5.1
Opinion of Holland & Knight LLP
23.1
Consent of Holland & Knight LLP (included in Exhibit 5.1)
23.2
Consent of PricewaterhouseCoopers LLP
24.1
Powers of Attorney (included on signature page)