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Technology Stocks : Metromedia International Group (MMG) Looking for Opinions -- Ignore unavailable to you. Want to Upgrade?

To: Joan P who wrote (135)	3/27/1998 6:00:00 AM
From: TheSlowLane	Respond to of 353

Joan - Welcome to SI and the thread. There are a couple of posters on this thread who have been following MMG far longer than I have, through various incarnations. While MMG is becoming a tightly focused company, that is a relatively new development. I believe Orion pictures used to be part of the mix, as well as a bunch of movie theatres. Both of those are gone. Now it's just telecom and Snapper. John Kluge has bought or built and sold a lot of businesses in his lifetime. Heck, maybe he's forgotten about Snapper. I would bet they're just trying to find a buyer though. Of course, my current favorite telecom, WinStar, also owns a shampoo business that they are trying to shed, so strange combinations do occur. I did not know that ATI was pursuing European business, but it doesn't surprise me. I don't think MMG's success depends on being the sole provider of services. From what I can tell, they have a good head start. As far as patience goes...I've learned to have lots of it. I primarily hold value stocks, which means buying when they are out of favor and waiting. I bought WinStar at 20, watched it go to 10, with a big knot in my stomach. It's at 45 now and rising fast. The knot in my stomach has been displaced by the grin on my face. I keep mentioning them because there are similarities between MMG and WinStar, particularly in terms of the technology that MMG will be using to deploy services (fixed-wireless, in many cases). Oh, and by the way, a few months ago WinStar sent a few people over to Europe...to start acquiring spectrum (licenses for 38GHz). So MMG is not the only one who sees the gold in those hills. I don't know if WinStar is going after Eastern or Western Europe, I tend to think the latter. At any rate, this thread is relatively quiet now, but that will change as this story gets out and as MMG makes progress in building/buying and deploying this business. I think over many years, China will be the big jewel in this crown. We'll see...

To: Joan P who wrote (135)	3/27/1998 9:16:00 AM
From: Carter Patterson	Read Replies (1) \| Respond to 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.