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  <TITLE> Paxson Communications Corporation (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	March 7, 2006
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  	Paxson Communications Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	&nbsp;
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  	Delaware
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  	1-13452
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  	59-3212788
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	&nbsp;
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  	601 Clearwater Park Road, West Palm Beach, Florida
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  	33401
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	561-659-4122
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
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  On March 7, 2006, the Registrant amended and restated the certificate of designation of its 11% Series B Convertible Exchangeable Preferred Stock to provide that the holders of such stock may exercise their right to exchange the stock for convertible debentures prior to April 16, 2013, only if no default or event of default would exist or be caused by such exchange under the covenants limiting the Registrant's ability to incur indebtedness that are contained in the indentures and term loan agreement relating to the Registrant's existing senior secured debt, as such covenants were in effect as of December 30, 2005.  An affiliate of NBC Universal, Inc. holds all of the outstanding shares of the Registrant's Series B preferred stock, and consented to the amendment and restatement of the certificate of designation.
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  	Item 9.01 Financial Statements and Exhibits.
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  (d)  Exhibits<br><br>The following item is filed as an Exhibit to this report:<br><br>3.1  Second Amended and Restated Certificate of Designation of the Company's 11% Series B Convertible Exchangeable Preferred Stock, filed March 7, 2006 with the State of Delaware.<br><br><br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Paxson Communications Corporation
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  	&nbsp;&nbsp;
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  <I>
  	March 16, 2006
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  	&nbsp;
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  	By:
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  <I>
  	Adam K. Weinstein
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  	&nbsp;
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  <I>
  	Name: Adam K. Weinstein
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  <I>
  	Title: Senior Vice President, Secretary & Chief Legal Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	3.1
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  	&nbsp;
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  <FONT SIZE="2">
  Second Amended and Restated Certificate of Designation of the Company's 11% Series B Convertible Exchangeable Preferred Stock, filed March 7, 2006 with the State of Delaware.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_10994.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10964}]
metadata_filer: {"company-data": {"conformed-name": "PAXSON COMMUNICATIONS CORP", "cik": "0000923877", "assigned-sic": "4832", "irs-number": "593212788", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13452", "film-number": "06690484"}, "business-address": {"street1": "601 CLEARWATER PK RD", "city": "WEST PALM BEACH", "state": "FL", "zip": "33401", "phone": "5616594122"}, "mail-address": {"street1": "601 CLEARWATER PK RD", "city": "WEST PALM BEACH", "state": "FL", "zip": "33401"}}
text: Paxson Communications Corporation (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  March 7, 2006
  Paxson Communications Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  1-13452
  59-3212788
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  601 Clearwater Park Road, West Palm Beach, Florida
  33401
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  561-659-4122
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
  On March 7, 2006, the Registrant amended and restated the certificate of designation of its 11% Series B Convertible Exchangeable Preferred Stock to provide that the holders of such stock may exercise their right to exchange the stock for convertible debentures prior to April 16, 2013, only if no default or event of default would exist or be caused by such exchange under the covenants limiting the Registrant's ability to incur indebtedness that are contained in the indentures and term loan agreement relating to the Registrant's existing senior secured debt, as such covenants were in effect as of December 30, 2005.  An affiliate of NBC Universal, Inc. holds all of the outstanding shares of the Registrant's Series B preferred stock, and consented to the amendment and restatement of the certificate of designation.
  Item 9.01 Financial Statements and Exhibits.
  (d)  Exhibits
  The following item is filed as an Exhibit to this report:
  3.1  Second Amended and Restated Certificate of Designation of the Company's 11% Series B Convertible Exchangeable Preferred Stock, filed March 7, 2006 with the State of Delaware.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Paxson Communications Corporation
  March 16, 2006
  By:
  Adam K. Weinstein
  Name: Adam K. Weinstein
  Title: Senior Vice President, Secretary & Chief Legal Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  3.1
  Second Amended and Restated Certificate of Designation of the Company's 11% Series B Convertible Exchangeable Preferred Stock, filed March 7, 2006 with the State of Delaware.