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FCC Approves Viacom’s Paramount Acquisition: Viacom Inc. said the Federal Communications Commission gave the green light to its acquisition of Paramount Communications Inc. Viacom said the approval permits it to assume direct control of Paramount. Viacom said March 2 that as part of its tender offer for Paramount, it accepted 50.1% of the outstanding shares of Paramount and expects to buy them this week. Viacom beat QVC Network Inc. in a five-month battle for the entertainment giant.