Monday, May. 09, 1994

Are They Better Off Now Than They Were Four Months Ago? An Unofficial Paramount-Viacom-QVC Takeover Deal of the '90s Alumni Bulletin

Sumner Redstone, Viacom chairman, winning Paramount bidder. Has accepted a visiting professorship at Brandeis University. Possible course subjects: "Economics American culture, as long as they don't think I'm going to talk about Beavis and Butt-head." Beavis and Butt-head are trademarks of the Viacom Corp.

Martin Davis, outgoing Paramount chairman. Named to the board of Redstone's National Amusements, Inc. Has formed Wellspring Associates, which plans to invest in undervalued companies in need of restructuring.

H. Wayne Huizenga, Blockbuster chairman and Viacom ally in the Paramount takeover war. Now backpedaling from merger with Viacom. Has announced plans for a Florida sports-and-entertainment complex to rival Disney World; now Disney may launch a friendly takeover bid for Blockbuster. Wants to rechristen Miami's Joe Robbie Stadium, which he owns 50% of, Blockbuster Stadium. The Robbie family is resisting.

Barry Diller, QVC Network chairman and a failed contender for Paramount. Starting up Q2, a second, allegedly hipper shopping channel aimed at Generation X consumers who are presumably uninterested in cubic zirconium. Reported to be planning a takeover run at Time Warner, but denies these rumors as "silly nonsense."

John Malone, Tele-Communications Inc. chairman and Barry Diller ally in the Paramount battle. Engaged in a love-hate relationship with Viacom -- currently talking to Sumner Redstone about buying Viacom's cable systems while fending off Viacom's massive antitrust suit. Also testily pulled Viacom's the Movie Channel from TCI's cable systems.

Stanley Jaffe, fired Paramount Communications president. Left Paramount with a fat severance package worth somewhere between $35 million and $60 million. Is now suing Viacom for allegedly denying him over $20 million more in stock options and other benefits he says were guaranteed.