Paramount Report Called Misunderstanding: The Japanese audio...

Paramount Report Called Misunderstanding: The Japanese audio products maker Pioneer Electronic Corp. said reports that Paramount Communications Inc. approached it with an offer to sell its motion pictures division were based on a misunderstanding. On Monday, a Pioneer spokesman said the American company contacted Pioneer last fall with a preliminary offer and that Pioneer rejected it. Paramount denied approaching Pioneer. Pioneer has now changed its story, saying Paramount had not sounded it out about buying its motion pictures division. Pioneer declined to elaborate further.