ENTERTAINMENT

Paramount Changes Fiscal Year: Paramount Communications Inc. said its board approved a change in its fiscal year-end--to April 30 from October 31--to allow the company to report results from the traditionally strong summer season in movies, publishing and theme parks in the first half of its fiscal year, “giving the company better predictability in its annual earnings stream.” For the three months ended April 30, Paramount reported a net loss of $10.1 million due to a onetime, after-tax charge of $26 million in connection with the consolidation of its geographically scattered publishing operations into two modern facilities in New Jersey. In addition, the charge includes Paramount’s anticipated relocation of its headquarters next year to a different Manhattan building.