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PARAMOUNT TO ACQUIRE WKBD-TV IN DETROIT

 NEW YORK, June 16 /PRNewswire/ -- As part of its ongoing program to expand in broadcast television, Paramount Communications Inc. (NYSE: PCI) today announced it has signed a definitive agreement to purchase television station WKBD-TV in Detroit from Cox Enterprises Inc. Financial terms were not disclosed.
 The transaction, which is expected to close by September, is subject to regulatory approval and the approvals of the boards of directors of both companies.
 WKBD-TV is the number one independent station in Detroit, the ninth- largest broadcast market in the U.S., and is among the top five-highest- rated Fox Broadcasting affiliates. The station is the market leader in sports programming, with broadcast rights for the Detroit Red Wings professional hockey, Detroit Pistons professional basketball and pre- season Detroit Lions professional football games. WKBD also has a solid 10 p.m. news program that is highly rated locally and ranks number four among all prime-time independent newscasts in the U.S.
 The addition of WKBD in Detroit to Paramount's Stations Group will give the company a total of seven broadcast outlets, four of which are in the country's top 10 television markets, and increase its combined reach of TV households in the U.S. by 20 percent. The company's Paramount Stations Group operates three other Fox affiliates, WKTX-TV in Philadelphia, WLFL-TV in Raleigh/Durham and KRRT-TV in San Antonio; and three independent UHF stations, WDCA-TV in Washington, D.C., KTXA-TV in Dallas and KTXH-TV in Houston.
 In addition to television broadcasting, Paramount Communications is among the top creators of programming both for network and first-run syndication and is a major producer and distributor of motion pictures and home video and has substantial operations in cable television networks, motion picture theaters, theme parks and live and televised sports and entertainment. The company's Paramount Publishing unit is America's leading publisher of educational materials and has significant operations serving the consumer and business, technical and professional publishing markets.
 -0- 6/16/93
 /CONTACT: Carl Folta of Paramount Communications, 212-373-8530/
 (PCI)


CO: Paramount Communications Inc. ST: New York, Michigan IN: ENT SU: TNM

SH -- NY061 -- 2730 06/16/93 15:56 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
Words:354
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