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P.M. BRIEFING : Paramount Sale Talk an Error

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From Times Wire Services

Pioneer Electronic Corp., a major Japanese audio products maker, said today that reports of Paramount Communications Inc. approaching it with an offer to sell its motion pictures division were based on a misunderstanding.

On Monday, a Pioneer spokesman had said that the American company contacted Pioneer last year with what he called a preliminary offer and that Pioneer declined it.

Paramount on Monday denied ever contacting Pioneer.

Toru Yokomizo, another Pioneer spokesman, said today that Paramount had not sounded out Pioneer about buying its motion pictures division, not even through a third company.

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Asked about Monday’s report, he said, “There were misunderstandings.”

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