Rumors have circulated widely that Time, particularly, has been trying to promote a deal in which someone would try to acquire Paramount.

The newly merged film studios acquired Paramount and became the parent company.

QVC and Turner have each indicated interest in acquiring Paramount.

Viacom bought Blockbuster Entertainment earlier in 1994 as part of its effort to acquire Paramount.

Viacom acquired Paramount in 1994.

Viacom entered the picture after acquiring Paramount in 1994, paving the way for the appearance of Nickelodeon themes.

"In reaching this conclusion," the board said, "we studied and rejected acquiring Paramount as a less desirable means of achieving this goal."

"We talked about the possibility QVC might acquire Paramount," one of them recalled.

Barry Diller, right, who spent most of the year trying to acquire Paramount, considers the notion mostly whimsy.

Selling the Garden will help Viacom down the debt it assumed when it acquired Paramount for $9.7 billion.