The board of Paramount Communications yesterday said it was terminating its existing merger pact with Viacom in favour of a hostile $10bn (£6.7bn) bid from the television shopping channel QVC Network. It is still likely that Viacom will put in an increased offer.
GRANADA BOSS GETS 17% PAY RISE
The chief executive of Granada TV, Gerry Robinson, now involved in the hostile takeover bid for LWT, has received a pay increase of more than 17 percent, taking his salary to £407,000 making him the highest paid director.
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