New acquisition for company
BW0032 FEB 04,1997 5:03 PACIFIC 08:03 EASTERN
( BW)(METROMEDIA-INTL-GROUP)(MMG) Metromedia International Group
acquires Romanian cable-TV company
Entertainment/Business Editors
NEW YORK--(BUSINESS WIRE)--Feb. 3, 1997--Metromedia International
Group Inc. (ASE:MMG), through its wholly owned subsidiary,
Metromedia International Telecommunications Inc. (MITI), Monday
announced that its joint venture, Romsat Cable TV and Radio, S.A.,
has acquired the cable-television assets of Standard Ideal
Consulting, S.A., a wired-cable-television company with
approximately 37,000 subscribers and approximately 65,000 homes
passed in Bucharest, Romania.
Terms of the acquisition were not announced.
The acquisition of these subscribers in Romania, together with
the continued growth of MITI's other cable-television joint
ventures, increases the company's total number of joint-venture,
cable-television subscribers to nearly 150,000.
Stuart Subotnick, president and chief executive officer of
Metromedia International, said, ``This acquisition is a significant
step in the building of the telecommunications infrastructure in
Romania.''
He added: ``The use of our MMDS wireless distribution system
for these 37,000 subscribers will increase the awareness of our
premium programming packages, thus providing a zero-cost advertising
campaign to increase subscriber revenues.
``In addition, there are an additional 28,000 potential subscribers,
already wired, together with the existing subscriber base, that can
be introduced to other telecommunications services using this wired
network.''
Metromedia International Group is a global communications and
entertainment company whose primary operations are engaged in two
businesses.
Through its wholly owned subsidiary, Metromedia International
Telecommunications, the company operates wireless cable-television
and FM-radio stations covering 9.5 million households each,
radio-paging operations serving 90 million people, Trunked Mobile
Radio systems serving nearly 80 million people and GSM cellular
operations that will serve 9.2 million people, all in Eastern Europe
and the former Soviet Union.
Through its Metromedia Entertainment Group, the company
develops, produces, acquires and distributes, worldwide, motion
pictures, television programming and prerecorded video cassettes.
--30--tjm/la* ew/la
BTW John, I expect Kluge's assistant/partner will take over it something happens to Kluge. His name is Stuart Subotnick, he's 55, former tax attorney, been in business with Kluge for quite a while, and apparently highly qualified.
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