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PARAMOUNT COMMUNICATIONS ISSUES STATEMENT ON QVC FINANCING DOCUMENTS

 NEW YORK, Oct. 11 /PRNewswire/ -- Paramount Communications Inc. (NYSE: PCI) today issued the following statement:
 "The board of directors of Paramount Communications Inc. met today. After reviewing the financing documents provided by QVC Network, Inc., it authorized the management to enter into informational discussions with QVC in order to evaluate various aspects of its proposal, including any regulatory restraints, the value of QVC stock and the certainty and time frame of the transaction being consummated. At the same time, the company is proceeding with its merger with Viacom in accordance with the terms of the agreement."
 -0- 10/11/93
 /CONTACT: Jerry Sherman of Paramount Communications Inc., 212-373-8725, or Jeffrey Z. Taufield of Kekst and Company, 212-593-2655/
 (PCI QVCN)


CO: Paramount Communications Inc.; QVC Network, Inc. ST: New York IN: ENT SU: TNM

GK-OS -- NY027 -- 0637 10/11/93 11:09 EDT
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Publication:PR Newswire
Date:Oct 11, 1993
Words:142
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