COMPANY TOWN ANNEX

QVC May Change Paramount Offer: QVC Network Inc., in a filing with the Securities and Exchange Commission, said it may revise the terms of its proposed cash-and-stock tender offer for Paramount Communications Inc. QVC, which is in a bidding war with Viacom Inc. for Paramount, did not specify what those revised terms might include, but said it might involve either or both the cash component and stock swap of its approximately $10-billion tender offer for the Hollywood studio. In a meeting with Paramount lawyers, QVC also said Paramount “should not assume that QVC has made its best bid” and requested Paramount to establish a “fair bidding process” to weigh the competing offers. Paramount did not immediately respond to QVC’s request.