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Paramount makes 10.7 billion hostile bid for Time Inc
Paramount Communications launches a cash offer of 10.7 billion dollars or 175 per Time share for Time Inc, three weeks before Time stockholders vote on a Warner merger. The move shakes Hollywood as Time and Warner had agreed to a merger that would create the world's largest communications firm. Time Chairman Munro and Paramount's Martin Davis disclosed the bid, which Time's board will review as required by law.
MENTIONED IN THIS ARTICLE
New York
UPI
Paramount Pictures
Time Inc
Time
Warner Communications
Warner
Warner Bros. Movie Studio
Paramount
Hollywood
J. Richard Munro
Martin Davis
Paramount Communications
Gulf & Western Inc
New York Times
New York Stock Exchange
Davis
The
Times
Steven J. Ross
Warner-Time
Steve (Ross
Los Angeles Times
Munro