Paramount Publishing Up For Sale

Viacom International’s bid for Paramount Communications, agreed last Sunday, seems likely to be the beginning of a take-over war. There may be a counter-bid from QVC, the home shopping group, or from Turner Broadcasting, the owner of the CNN television channel. (Newsline 13/9)

Either counter-bidder would then sell off Paramount Publishing, whose assets include Simon & Schuster, Prentice Hall and Pocket Books. Two British Companies Thorn EMI and Reed Elsevier are said to be interested. A move into publishing is thought to be a natural step for EMI to fit in with the group’s music interests.