
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, March 9, 1994                   TAG: 9403090198
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE: CHICAGO                                LENGTH: Short

PARAMOUNT BATTLE COST MILLIONS

The combatants in the battle for control of Paramount Communications Inc. have reported the size of the toll.

QVC Network Inc., which lost the five-month, $10 billion bidding war to Viacom Inc., said Tuesday its fourth-quarter profits fell 85 percent because of the fight.

Paramount Tuesday reported a loss of $36.6 million, or 31 cents a share, for its fiscal third quarter, which ended Jan. 31.

And while Viacom last week said its fourth-quarter earnings more than doubled, to $26.3 million from $11.6 million a year earlier, payment of $12.7 million in preferred stock dividends kept per-share earnings to 11 cents, compared with 10 cents in the same period last year.

The dividends reflect investments by Nynex Corp. and Blockbuster Entertainment Corp. in Viacom's preferred stock to help underwrite its pursuit of Paramount.

- CHICAGO TRIBUNE

by CNB