Registration No. 33-51656
________________________________________________________________________________

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549
                              ___________________

                         POST-EFFECTIVE AMENDMENT NO. 2
                                       To
                                    FORM S-3
                            REGISTRATION STATEMENT
                                     Under
                           THE SECURITIES ACT OF 1933
                              ___________________

                         PARAMOUNT COMMUNICATIONS INC.
             (Exact name of registrant as specified in its charter)

      Delaware                                                  74-1330475
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                              Identification No.)

                                 1515 Broadway
                            New York, New York 10036
                                 (212) 258-6000
  (Address, including zip code, and telephone number, including area code, of
                   registrant's principal executive offices)

                            Philippe P. Dauman, Esq.
                           Executive Vice President,
          General Counsel, Chief Administrative Officer and Secretary
                                  Viacom Inc.
                                 1515 Broadway
                           New York, New York  10036
                                 (212) 258-6000
 (Name, address, including zip code, and telephone number, including area code,
                             of agent for service)
                              ___________________

                           Copy of Communications to:

                             Stephen T. Giove, Esq.
                              Shearman & Sterling
                              599 Lexington Avenue
                           New York, New York  10022
                              ___________________

     The Registrant hereby amends this Registration Statement to deregister
$200,000,000 of the Registrant's debt or equity securities previously
registered hereby.
________________________________________________________________________________



          The Registrant has sold $150,000,000 of 5 7/8% Senior Notes due July
15, 2023 and $150,000,000 of 7 1/2% Senior Debentures due July 15, 2023
pursuant to a Prospectus Supplement dated July 12, 1993.  This Post-Effective
Amendment No. 2 is being filed solely to remove from registration the remaining
$200,000,000 of the Registrant's Debt Securities and Warrants, and Common Stock
issuable upon conversion of the Debt Securities, previously registered and
intended to be offered on a delayed or continuous basis pursuant to Rule 415
under the Securities Act of 1933, as amended, but which have not been offered
or sold.  The Registrant merged with and into a wholly owned subsidiary of
Viacom Inc., a Delaware corporation ("Viacom Inc.") on July 7, 1994, and
thereby became a wholly owned subsidiary of Viacom.  Viacom does not intend to
use the Registrant as the entity through which the consolidated company's
future financing will be conducted.  Accordingly, the Registrant does not
intend to utilize this Registration Statement.

                                Part II
                 
                  INFORMATION NOT REQUIRED IN PROSPECTUS

Item 16. Exhibits

           24.1  Powers of Attorney




                                SIGNATURES

          Pursuant to the requirements of the Securities Act of 1933, Paramount
Communications Inc. certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-3 and has duly caused this
post-effective amendment to the Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of New York,
State of New York, on December 20, 1994.


                                            PARAMOUNT COMMUNICATIONS INC.


                                            By /s/ Frank J. Biondi, Jr.
                                              ----------------------------
                                            President, Chief Executive Officer


          Pursuant to the requirements of the Securities Act of 1933, this
post-effective amendment to the Registration Statement has been signed below by
the following persons in the capacities indicated on December 20, 1994:

     Name and Signature                 Title


   /s/ Frank J. Biondi, Jr              Director, President,
- -----------------------------------
     (Frank J. Biondi, Jr.)              Chief Executive Officer


   /s/ George S. Smith, Jr.             Senior Vice President,
- -----------------------------------
     (George S. Smith, Jr.)              Chief Financial Officer


   /s/ Kevin C. Lavan                   Senior Vice President, Controller,
- -------------------------------------
     (Kevin C. Lavan)                    Chief Accounting Officer


                    *                   Director
- -----------------------------------
     (George S. Abrams)


               *                        Director
- -----------------------------------
     (Steven R. Berrard)


   /s/ Philippe P. Dauman               Director
- -----------------------------------
     (Philippe P. Dauman)



                                        Director
- -----------------------------------
     (William C. Ferguson)


                    *                   Director
- -----------------------------------
     (H. Wayne Huizenga)



               *                        Director
- ------------------------------
     (George D. Johnson, Jr.)


                    *                   Director
- -----------------------------------
     (Ken Miller)


                    *                   Director
- ------------------------------------
     (Brent D. Redstone)


               *                        Director
- ------------------------------
     (Shari Redstone)


                    *                   Director
- -----------------------------------
     (Sumner M. Redstone)


                    *                   Director
- -----------------------------------
     (Frederic V. Salerno)


                    *                   Director
- ------------------------------------
     (William Schwartz)


*By   /s/ Philippe P. Dauman
   --------------------------------
               Philippe P. Dauman,
               Attorney-in-Fact
               for the Directors
               pursuant to Powers of
               Attorney filed herewith


                               Exhibit Index

 Exhibit No.                   Description
- ------------                  --------------
24.1                          Powers of Attorney