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PARAMOUNT COMMUNICATIONS ISSUES STATEMENT IN RESPONSE TO A DAILY NEWS STORY

 PARAMOUNT COMMUNICATIONS ISSUES STATEMENT IN RESPONSE
 TO A DAILY NEWS STORY
 NEW YORK, March 12 /PRNewswire/ -- Paramount Communications Inc. (NYSE: PCI) today (Thursday, March 12, 1992) issued the following statement in response to a Daily News story with respect to the possible sale of the New York Yankees Baseball team:
 "Several of the Yankees' owners, including George Steibrenner, have expressed an interest in discussing the sale of the team. However, we have not received any concrete proposals, nor have we made any.
 "Obviously, we are concerned about the future of the team since we have a major investment in it through our long-term contract to broadcast Yankees' games over MSG Network.
 "As a company with substantial interests in publishing and entertainment, including sports, we always explore every opportunity to expand those operations."
 -0- 3/12/92
 /CONTACT: Jerry Sherman of Paramount Communications, 212-373-8725/
 (PCI) CO: Paramount Communications, Inc. ST: New York IN: ENT SU:


SH-OS -- NY018 -- 7683 03/12/92 10:11 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 12, 1992
Words:163
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