COMPANY TOWN ANNEX

Paramount Directors to Meet: Paramount Communications Inc.’s directors are scheduled to meet today to consider a revised bid last week by television and theater giant Viacom Inc. in the wake of Viacom’s $8.4-billion agreement to acquire Blockbuster Entertainment Corp. Meanwhile, four Blockbuster shareholders sued the Ft. Lauderdale, Fla., video rental chain to block the Viacom merger, saying directors failed to maximize shareholder value in agreeing to the deal. Blockbuster said the lawsuits are without merit. Also, documents filed with the Securities and Exchange Commission show Blockbuster could get as much as $275 million from Viacom if the deal collapses and Viacom Class B stock continues to trade below $55 per share, while Blockbuster would pay Viacom up to $50 million in expenses if Blockbuster’s shareholders failed to approve the deal or if a competing suitor outbid Viacom for Blockbuster.