SHOW BUSINESS: Paramount Makes a Deal

As the biggest U.S. movie exhibitor, United Paramount Theatres, Inc. has been hard hit by television. Unable to lick the enemy, United Paramount's 45-year-old President Leonard H. Goldenson last week decided to join it. He made a $25 million stock-swapping deal to buy American Broadcasting Co., third biggest television-radio network. Only two weeks before, Edward J. Noble, ABC's biggest stockholder (58%), had stated firmly that he would not sell. But Paramount had upped its offer enough to change his mind.

The deal has still to be approved by FCC and the stockholders of both companies; it will probably be months...

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