Metromedia International Group (MMG) Looking for Opinions Message Board

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Technology Stocks : Metromedia International Group (MMG) Looking for Opinions

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To: Joan P who wrote (135)	3/27/1998 9:16:00 AM
From: Carter Patterson	Read Replies (1) of 353

Very quick history starting in late 80's - Snapper was one of the core businesses of Fuqua Industries, alongside a major photofinishing JV with Kodak, a Georgia thrift, etc. Fuqua was an old line conglomerate which bought and sold almost any kind of business. Other than Snapper, the other stuff is gone. Fuqua was then renamed Actava and its charter was to focus on sports and leisure activities. It had a lot of cash from the sale of the thrift and the Kodak JV. Management came from Triton, a San Diego company. A complete !&@)8?/~~ disaster. They exchanged their sports equip company (DP Fitness) and a few other pieces for a share of Roadmaster (bicycles) which is now in Chapter 11. I assume their RDM stock is worthless. The Fuqua family sold out and actually paid Triton $1 million to take their name of the door. (Subsequently a new Fuqua Enterprises emerged, but is totally unconnected to Fuqua Industries. Another messy saga, but not relevant here) A wealthy Atlanta telecom person (Jack Phillips who had sold some companies to what is now Worldcom) took over Actava as a vehicle with help from Kluge. The company then became MMG. Phillips left about a year ago. I do not know what happened, but I suspect he did not have the contacts etc outside of the US, which is what this company is all about. Therefore, Snapper is a left over piece, which I assume pays its own way (maybe kicks off a few $) and they cannot find a buyer at a good price. It obviously does not fit their new focus and I am sure will be gone one day. Good luck. I have held this stock a LLLLLOOOOONNNNNGGGGG time. I am a long term investor by default. The story seems fairly decent now. I originally invested when it was loaded with cash; however, the cash was sucked out by Triton and here I still am. I need it to hit $30 to get a 15% annual return. Maybe I will get lucky.

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