MEDIA & ENTERTAINMENT

Paramount to Make Offering: Paramount Communications Inc. plans a public offering of senior debt, consisting of $250 million of 8.25% debentures due Aug. 1, 2022, at a price of $98.684, to yield 8.37%. Underwriters include Morgan Stanley and J.P. Morgan. The debentures are non-callable for 10 years and were priced to offer 98 basis points over comparable U.S. Treasuries. Proceeds from the sale will be used for general corporate purposes, according to Paramount, the New York-based parent of Paramount Pictures.