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PARAMOUNT COMMUNICATIONS AND CHRIS-CRAFT INDUSTRIES ANNOUNCE FORMATION OF FIFTH TELEVISION NETWORK

The Paramount Network to Premiere in January 1995 With Two Nights of
 Programming Anchored by Paramount's New `Star Trek: Voyager'
 LOS ANGELES, Oct. 26 /PRNewswire/ -- Paramount Communications Inc. and Chris-Craft Industries Inc. today announced the formation of The Paramount Network, a fifth broadcast television network to be launched in January 1995. The new network will be jointly owned and operated by Paramount and Chris-Craft.
 The new network will initially present four hours of original programming over two nights, featuring the introduction of a new, hour- long action/adventure series, "Star Trek: Voyager." The network will also acquire additional original programs from Paramount and other leading television producers. The introductory prime-time programming blocks presented by the network will be carried by a group of affiliated stations that will include the six independent stations owned by Chris- Craft and the four independent stations owned by Paramount. Together, these stations reach more than 27 percent of U.S. television households.
 Martin S. Davis, chairman and chief executive officer of Paramount Communications, said, "Under our merger agreement, the launch of The Paramount Network has been approved by Viacom. They share our enthusiasm for the vast opportunities created by this bold venture with Chris-Craft. The Paramount Network will benefit substantially from the combination of Paramount's programming expertise with Viacom's outstanding capabilities in the television business, particularly in creating immensely popular networks."
 Kerry McCluggage, chairman of the Paramount Television Group, said, "Paramount brought network quality to first-run syndication with `Star Trek: The Next Generation,' `Star Trek: Deep Space Nine,' and `The Untouchables.' Now, we are taking it to the next level by creating a quality network; Chris-Craft's expertise in television station operations makes them a perfect partner in The Paramount Network, ensuring a successful network that will maximize its affiliate stations' value."
 Evan Thompson, president of Chris-Craft Broadcasting, said, "We are extremely pleased to join Paramount in the creation of a new national television network. We both believe that The Paramount Network represents the most exciting opportunity to provide independent stations with distinctive, original programming with which they can differentiate themselves from other independents and cable channels above and beyond their current slate of off-network programs. By aligning themselves with The Paramount Network, the affiliated stations around the country will create a valuable franchise in their markets."
 The Paramount Television Group is a leading producer of both network and first-run programming, supplying 30-1/2 hours of programming per week to the CBS, NBC, ABC, and USA networks as well as stations across the country and worldwide. Paramount is producing 10 network series for the current season including "Wings," "Frasier," "Bob," "South of Sunset," "The Mommies," "John and Leeza," "Viper," "Sister Sister," "Duckman," and "Itsy Bitsy Spider." The pioneer of the first-run syndication market, Paramount's first-run series are "Star Trek: The Next Generation," "Star Trek: Deep Space Nine," "Entertainment Tonight," "The Untouchables," "The Arsenio Hall Show," "The Maury Povich Show," and "Hard Copy."
 The Paramount Stations Group is comprised of seven stations covering more than 11 percent of all U.S. television households: the independent stations are WTXF in Philadelphia, WDCA in Washington, D.C., KTXA in Dallas/Ft. Worth, and KTXH in Houston; the FOX network-affiliated stations are WLFL in Raleigh/Durham, N.C., KRRT in San Antonio, Texas, and WKBD in Detroit. Paramount Communications also has significant operations in motion pictures and home video, cable television networks, motion picture theaters, theme parks, and live and televised sports and entertainment events, as well as global publishing operations serving the educational, consumer and business, technical, and professional markets.
 Chris-Craft, through its 70-percent-owned subsidiary BHC Communications Inc., owns and operates an eight-station group covering approximately 20 percent of all U.S. television households. BHC owns independent stations KCOP in Los Angeles, WWOR in New York, and KPTV in Portland, Ore. BHC's 55-percent-owned subsidiary, United Television Inc., owns independent stations KMSP in Minneapolis, KBHK in San Francisco, and KUTP in Phoenix, as well as ABC affiliate KTVX in Salt Lake City and NBC affiliate KMOL in San Antonio.
 -0- 10/26/93
 /CONTACT: John A. Wentworth, Paramount Television Group, 213-956-5394, or Carl Folta, Paramount Communications, 212-373-8530; or Evan Thompson, Chris-Craft, 310-854-0426/


CO: Paramount Television Group; Chris-Craft Industries Inc. ST: California IN: ENT SU: JVN

MF-LS -- LA030 -- 6836 10/26/93 13:51 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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