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George Rush couldn't be happier with the Viacom-Paramount-Blockbuster merger. And that's not because he holds Paramount Communications Inc. stock.
As a gossip columnist for the Daily News, he's excited because the megadeal firmly plants Sumner M. Redstone and Frank Biondi on New York's celestial social scene.
"Before this deal, these guys were two homebodies no one jawed about," he says. "Now we'll be watching every bite of food they eat, who their kids marry and divorce, and what number suntan lotion these guys use at the beach."
Viacom Inc.'s successful $10 billion takeover of Paramount Communications Inc. after a protracted battle has raised the profile of the companies and executives, creating an entertainment giant whose presence will have a broad impact on New York.
The birth of this $11 billion conglomerate is a big shot in the arm to the city's reputation as a media and entertainment capital at a time when that stature is being challenged.
The merger will also be a boon for Times Square real estate. Paramount, now located at 15 Columbus Circle, will move downtown into Viacom's digs at 1515 Broadway, giving another boost to the neighborhood as a media headquarters.
The emergence of this vast, imposing company will transform Viacom into a brand-name here -- like International Business Machines Corp. -- and finally give it the recognition that many of its units, such as MTV and Showtime, have long enjoyed.
PLAYING ON CITY'S SOCIAL SCENE
This may mean the new company could play a...