Paxson Communications to Open Studio City Office

Paxson Communications said it is moving its on-air and sales promotions departments to Studio City this month. The Palm Beach, Fla., network has signed a five-year, $1.5-million lease on 11,177 square feet of office space at 12001 Ventura Blvd.

Julian J. Studley Inc of Los Angeles represented Paxson. Lee & Associates represented the landlord.

Paxson owns and operates PAX TV, a television network with 72 company-owned stations and 50 affiliates. NBC recently purchased a 32% stake in the company for about $415 million.