TVX Board Backs Enhanced Paramount Bid: New...
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From Times Staff and Wire Reports
TVX Board Backs Enhanced Paramount Bid: New York-based Paramount Communications Inc. raised its offer for the 17% of TVX Broadcast Group Inc. stock it does not own to $9.50 a share from $7.50, and the TVX board recommended the offer. TVX, based in Virginia Beach, Va., owns and operates six independent television stations. The deal would cost about $63 million for the 7.1 million shares that Paramount does not own.
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