Paramount Communications Inc.: The New York-based entertainment...
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Paramount Communications Inc.: The New York-based entertainment and publishing company announced net income of $106.2 million for the third fiscal quarter, up 10.3% from the like period last year. Revenue was up 8.9% to $1.035 billion. The company said higher returns from educational publishing and strong gains in television offset declines in motion picture and theater operations and costs associated with the renovation of Madison Square Garden. Most of the profit from theatrical distribution of the company’s summer blockbuster, “Ghost,” will be recorded in the fourth quarter.
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