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March 05, 1994|From Times Staff and Wire Reports

Blockbuster May Have to Revise Viacom Offer: Blockbuster Entertainment Corp., fighting dissident shareholders over its $8-billion merger with cable company Viacom Inc., acknowledged that it may have to revise the deal to win stockholder approval. The giant video rental company made the statement in a court filing opposing a last-minute attempt by the dissident group to block the deal. Blockbuster would buy $1.25 billion of stock from Viacom, which would then use the cash in its $10-billion takeover of Paramount Communications Inc. Viacom's stock price fell during the bidding contest for Paramount, cutting into the value that Blockbuster stockholders would receive in the deal.

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