Prentice Hall sale nixed amid Wall St. action on Paramount

Abstract

After much of the work for closing had been completed, a deal that would have made Prentice Hall Professional Software part of an online information services company fell through. The software group's parent, Paramount Communications, had agreed to sell Prentice Hall to Information America with Paramount retaining up to 49% ownership in 3 Prentice Hall units. The breakdown came amid an escalating takeover war for Prentice Hall parent Paramount by QVC Network Inc. and Viacom Inc.