QVC WINS MAJOR PARAMOUNT BATTLE.(BUSINESS)

Byline: JONATHAN WEBER - Los Angeles Times

The Delaware Supreme Court handed QVC Network another huge victory in the battle for Paramount Communications Thursday, in effect ordering Paramount's directors to auction off the company.

In upholding a lower court decision that blocked a merger between Paramount and Viacom Inc., the state's highest court shocked observers here with a ruling even more sweeping than the Chancery Court's. If QVC ultimately prevails in the takeover fight, Viacom now stands to lose not only $500 million worth of stock options that were thrown out by the lower court, but also a $100 million "break-up fee" that the lower court had …