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BW1238 MAR 05,1998 9:08 PACIFIC 12:08 EASTERN
( BW)(METROMEDIA-INTL)(MMG) Metromedia International Group Moves To Capitalize On The Only Private News Radio Opportunity In Berlin
EAST RUTHERFORD, NJ--(BUSINESS WIRE)--March 5, 1998--Metromedia International Group, Inc. (MMG:Amex) today announced that the Media Council for Berlin-Brandenberg awarded a new broadcasting license for NewsTalk 93.6 to a consortium which includes principal shareholder Metromedia International Inc., (MII), a wholly owned subsidiary of Metromedia International Group, Inc. NewsTalk 93.6 provides a news and information format to the Berlin-Brandenberg area of Germany, which has a population of 4.5 million, and gross radio adspend of pproximately $100 million.
Stuart Subotnick, President and Chief Executive Officer of MMG said "The acquisition of NewsTalk 93.6 is an exciting addition to our company. Berlin is a gateway city between Eastern and Western Europe, and NewsTalk 93.6 represents a unique opportunity for Metromedia International to serve a significant population with valuable news and information."
The new license was granted for a period of seven years. MII holds
seventy percent of the shares and will be the operating partner. The other shareholders are Europa Plus Medienbeteiligungs GmbH (EPM) with 15%, RTL Radio Deutschland GmbH & Co. (RTL) with 7.5%, and Frank Otto
Medienbeteiligungs GmbH & Co. (FOM) with 7.5%. EPM, RTL and FOM were the founding partners and together owned 100% of the shares, prior to
the sale of 70% to MII.
MII operates a group of leading radio stations in Prague, Riga, Moscow, St. Petersburg, and Sochi, and five radio networks in Hungary and Estonia.
Metromedia International Group, Inc., through its wholly owned subsidiary, Metromedia International Telecommunications, Inc. (MITI), operates communications and media businesses in Eastern Europe, the former Soviet Union and other emerging markets including wireless cable television stations; FM radio stations; radio paging operations; an international toll calling service; Trunked Mobile Radio systems, and GSM cellular operations. Through its 57% ownership of Metromedia Asia Corporation, MITI operates ventures supporting wired telephone network and GSM cellular system operations in China.
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CONTACT: Eric Leeds
G. A. Kraut Co.
212-696-5600
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