From Times Staff and Wire Reports

Viacom, QVC Await Paramount Ruling: A Delaware Chancery Court judge is expected to issue a key ruling today in the Paramount Communications takeover fight. Paramount shares fell to compensate for a bizarre rise late Monday linked to the company's elimination from the Standard & Poor's 500, and Viacom and QVC shares were steady as traders awaited the court ruling. Viacom's $85-a-share partial tender offer for Paramount will expire tonight, and QVC's $90-a-share bid will expire Dec. 1--unless both are delayed again by the court while its decision is appealed. QVC's tender drew 209,829 shares, while Viacom attracted more than 12 million. Paramount has more than 119 million shares outstanding. Separately, Paramount announced that it reached an agreement with American Telephone & Telegraph Co. to use AT&T; software in developing experimental interactive television programs.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World