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QVC ANNOUNCES $4.8 BILLION CASH TENDER OFFER FOR 51 PERCENT OF PARAMOUNT SHARES; BEGINS LITIGATION AGAINST PARAMOUNT, VIACOM

 WEST CHESTER, Pa., Oct. 21 /PRNewswire/ -- QVC Network, Inc. (NASDAQ-NMS: QVCN), announced today that it will commence a $4.8 billion cash tender offer for 51 percent of the common shares of Paramount Communications Inc. (NYSE: PCI) at a price of $80 per share.
 -0- 10/21/93
 /NOTE TO EDITORS: QVC expects to issue another release with more details later today/
 /CONTACT: Michael Rourke of QVC, 212-371-5999/
 (PCI QVCN VIA)


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

GK-LG -- NY090 -- 5355 10/21/93 15:02 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
Words:96
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