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: TheSlowLane who wrote (150)	4/27/1998 11:56:00 AM
From: leigh aulper	Read Replies (1) of 353

Focus, focus, focus Metromedia International Group Completes the Sale of Landmark Theatre to Silver Cinemas EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--April 27, 1998-- Sale Furthers Company's Focus on Its International Communications Opportunity Metromedia International Group, Inc. (MMG:Amex) today announced the consummation of the sale of its Landmark Theatre Group to Silver Cinemas, Inc. The gross cash consideration received by MMG was $68 million. Stuart Subotnick, President and Chief Executive Officer of Metromedia International Group, said "Metromedia International Group has identified a market of 250 million people lacking adequate communications capabilities and is concentrating its efforts on seizing this extraordinary opportunity. The consummation of the Landmark sale marks the final step in the Company's divestment of its Entertainment Group, enabling the Company to more sharply focus on the growth of its international communications business."

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