COMPANY TOWN ANNEX

Viacom Losing in Bid for Paramount, Gabelli Says: Money manager Mario Gabelli, the largest shareholder in Paramount Communications Inc., told reporters, “(Viacom Inc. Chairman) Sumner Redstone is at bat, but he’s losing.” Gabelli made the comment after an address to the closing session of the annual convention of the Securities Industry Assn. in Boca Raton, Fla. “If nothing else happens, (QVC chairman) Barry Diller will win.” His holdings in Paramount were estimated at about 10 million shares of a total 119 million Paramount shares when the takeover battle began in mid-September.