Paramount Communications Inc.: The New York-based entertainment...
From Times Staff and Wire Reports
Paramount Communications Inc.: The New York-based entertainment company reported a second-quarter loss of $55 million, contrasted with a profit of $21.2 million in the year-ago quarter. Revenue rose 7% to $868 million. Paramount said $35.4 million of the loss involved writedowns of film and television development costs and reorganization-related charges. Adding to the loss was the unspecified cost of settling a lawsuit filed by former Chairman Frank Mancuso.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
