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PARAMOUNT COMMUNICATIONS ADOPTS 'PARAMOUNT MOUNTAIN' AS COMPANY-WIDE LOGO; 'PARAMOUNT PUBLISHING' BECOMES NEW NAME OF PUBLISHING OPERATIONS

 NEW YORK, Jan. 28 /PRNewswire/ -- Paramount Communications (NYSE: PCI) today announced that it will adopt the well-known "Paramount Mountain" as its corporate logo. In addition to its continuing use by Paramount Pictures and as the parent company's symbol, the mountain will be used in conjunction with the existing logos of Paramount Communications' other entertainment and publishing operations.
 The new identification program, which will be phased in over the next several months, makes its debut in Paramount Communications' 1992 Annual Report to be distributed beginning early next week. The report notes that the new identification program reflects the completion of Paramount Communications' transition from a holding company to a unified operating company and is designed to capitalize on the strength and worldwide recognition of the Paramount name which, in 1989, became the Corporation's name.
 At the same time, the company announced that its publishing operations will be renamed "Paramount Publishing" from Simon & Schuster. The company said that this name change reflects the growth and diversity of its publishing activities beyond the traditional scope of Simon & Schuster, which was acquired in 1975 and is identified primarily as a trade publisher.
 Paramount Publishing is the leading American book publisher with annual revenues of more than $1.6 billion. About 50 percent of those revenues come from educational publishing activities, including textbooks and computer-based learning systems; some 25 percent from business, technical and professional information; and approximately 25 percent from consumer publishing, which includes the trade division.
 Individual product lines will continue to be marketed under the well-known trade and imprint names that comprise Paramount Publishing, including Simon & Schuster, Prentice Hall, Silver Burdett Ginn and Pocket Books. The Simon & Schuster imprint, with its distinctive "Sower" logo, is one of the great names in publishing and will remain an important and vital part of Paramount Publishing's consumer publishing operations.
 The company said that the widely recognized mountain logo, which has represented the company's Paramount Pictures unit for nearly 80 years, "has stood for preeminence and quality, characteristics that today apply not only to the entertainment Paramount Communications produces, but also to the books and materials it publishes."
 As the company stated in the annual report, the Paramount Mountain has stood, just as it did at the very beginning, as a symbol of quality and marketing prowess. The mountain was adopted in 1914 by Paramount Pictures (which became a part of Paramount Communications -- which was then Gulf + Western -- in 1966) and, in addition to its use with motion pictures, became the symbol of Paramount Television after the company entered that business in 1967.
 The new identification program, the Paramount report noted, "acknowledges the growing relationship between entertainment and publishing, both highly creative businesses that are forming even closer links because of converging technologies and markets. Uniting our operations under the Paramount name solidifies our identity as a leader and innovator in both businesses."
 In addition to book publishing, Paramount Communications is a major producer and distributor of motion pictures, television programming and home videos, and has significant operations in cable television networks, broadcast television stations, motion picture theaters, theme parks, and live and televised sports and entertainment events. The Company's well-known operations include Paramount Pictures, Paramount Television, Paramount Home Video, Paramount Parks, Madison Square Garden and jointly owned USA Networks.
 -0- 1/28/93
 /Note to editors: Logo sheets are available upon request./
 /CONTACT: Carl Folta of Paramount Communications, 212-373-8530/
 (PCI)


CO: Paramount Communications ST: New York IN: ENT SU:

KD-SH -- NY034 -- 0188 01/28/93 11:09 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Date:Jan 28, 1993
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