The Cutting Edge: COMPUTING / TECHNOLOGY / INNOVATION : Paramount TV Forms a New Interactive Unit

Viacom Inc.’s Paramount Television Group formed a new subsidiary Tuesday to develop interactive, multimedia and on-line content for use on the global computer network.

The new venture, called Paramount Digital Entertainment, will initially promote Paramount’s current television and feature films, such as “Forrest Gump,” “Beverly Hills Cop” and the “Star Trek” series. However, over time, the venture will release original content programs aimed strictly at the Internet market.

In addition, Paramount said it is negotiating with several large corporations to develop on-line programs that would deal with issues specific to the sponsors and their industries.

The first such arrangement, with Bristol-Myers Squibb Co., will feature an on-line offering addressing women’s health, fitness and beauty issues “in an entertaining format.”

“We strongly believe that the growing population of women logging on line constitutes a vital segment of our target customer base that can easily complement our more traditional forms of marketing,” said Peggy Kelly, vice president of advertising services for Bristol-Myers.

Bristol Myers makes drugs, medical devices, over the counter products like Excedrin, and beauty aids like Nice ‘n Easy hair colorer.

Paramount Executive Vice President Richard Lindheim said revenues would come from three sources: access fees from existing on-line companies, such as H&R; Block’s Compuserve, sponsorship fees from advertisers and direct marketing money from the sale of merchandise.

He said Paramount hopes to broaden the current Internet audience, which is largely younger users and teen-agers, by creating programs that are entertaining as well as informative.