Diller Submits Answers on Paramount Merger Bid

QVC Network Inc. Chairman Barry Diller turned in his paperwork Wednesday to Paramount Communications Inc., answering questions about his hostile bid, amid Wall Street speculation that Diller might yet launch a partial tender offer to force the Paramount board to negotiate seriously.

Paramount agreed 10 days ago to hold “informational” discussions with QVC and asked for certain data last week. But Paramount has a signed merger agreement with Viacom Inc. that would impose costly penalties if the Viacom deal were abandoned. Depending on the viewpoint, Paramount’s board is proceeding cautiously because of that agreement or deliberately dragging its feet to thwart QVC.

Viacom, meanwhile, could clear the 30-day antitrust review by federal agencies as early as today, one source said, unless more information is sought under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.