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QVC STATEMENT ON VIACOM OFFER

 WEST CHESTER, Pa., Jan. 7 /PRNewswire/ -- QVC (NASDAQ: QVCN) stated tonight that it believes that the new Viacom (AMEX: VIA) offer violates the bidding procedures agreed to among QVC, Paramount (NYSE: PCI) and Viacom and does not operate to trigger a new round of bidding.
 QVC intends to make an announcement with respect to the extension of its offer prior to the opening of the market on Monday, Jan. 10.
 QVC stated that it believes the new heavily front-end loaded Viacom- Blockbuster offer, even at the values that QVC understands Viacom to have ascribed to its offer, is inferior to QVC's current offer. Moreover, in view of the consideration being offered to Blockbuster stockholders in the proposed Viacom-Blockbuster merger, QVC believes it likely that the blended value of the new Viacom offer will be less than Viacom's estimates and even less than Viacom's previous offer.
 -0- 1/7/94
 /CONTACT: Michael Rourke, 212-371-5999, or Donald Van de Mark, 215-429-5666, or (investors) William F. Costello, 215-430-8938, all of QVC; or Diana Brainerd of Abernathy/MacGregor/Scanlon, 212-371-5999/
 (QVCN PCI VIA)


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

CK -- NY069 -- 0332 01/07/94 19:26 EST
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Publication:PR Newswire
Date:Jan 7, 1994
Words:204
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