COMPANY TOWN ANNEX

Paramount Reportedly Ready to Talk with QVC: Directors of Paramount Communications Inc. meeting this morning are expected to approve exploratory merger talks with QVC Network Inc., the New York Times reported, quoting an executive close to the Paramount board. Although QVC is a hostile suitor, the Paramount board was said to consider its $9.5-billion bid impossible to ignore. The QVC bid trumped an earlier $7.2-billion offer from Viacom Inc. The newspaper also said QVC was discussing a cash infusion of as much as $1 billion from investors that included Bellsouth and Cox Enterprises, which would enable QVC to avoid seeking financial backing from Liberty Media and Tele-Communications Inc., both controlled by John C. Malone. If Cox were to assist QVC, it would be a reversal, as Cox earlier was negotiating a $600-million investment to bolster Viacom’s bid.