The Network Starter Kit

With audiences fragmenting and costs soaring, the broadcasting business has never been tougher. So why does everybody want in?

No one would call Lowell (Bud) Paxson a dimwit. He is an unusual sort of TV executive, certainly: a born-again Christian who makes more money than headlines and counts among his achievements the Home Shopping Network, which he sold for a bundle in 1992. Nor would Barry Diller, a genuine TV honcho who makes a lot of money and headlines, qualify as anything less than bright. But each is about to embark on what would appear to be a fool's errand: starting a new television network in an era in which audiences are fragmenting and network profits disappearing. Paxson and Diller...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!