December 18, 1997 |
Metromedia International Group has agreed to sell its Landmark Theatre Group to a Dallas-based cinema chain for about $65 million. Metromedia had acquired Landmark--the nation's largest exhibitor of art house fare--as part of the Samuel Goldwyn Co. In Los Angeles, Landmark operates the Nuart, NuWilshire and Samuel Goldwyn theaters, all on the Westside. The chain has 130 more screens in cities including San Francisco, Boston and Cleveland.
October 30, 1997 |
Veteran movie executive Samuel Goldwyn Jr. sued Metro-Goldwyn-Mayer Inc. and billionaire John Kluge's Metromedia International Group Inc. on Wednesday, alleging he was fired by MGM without cause in August and earlier was duped by Metromedia into selling his independent film company with promises he could continue to run it. The Samuel Goldwyn Co. was first sold to Metromedia in 1996 in a deal valued at $115 million, besting a previous agreement with European entertainment conglomerate PolyGram.
July 11, 1997 |
Some 85 employees of Metromedia International Group's film and TV units were fired Thursday as Metro-Goldwyn-Mayer formally took control of the operations in a $573-million acquisition. MGM said an additional 111 employees will work through a transition period, losing their jobs in nine months or less. About 25 will get new jobs at MGM. The future of 35 other workers at Metromedia's Samuel Goldwyn Co.
April 29, 1997 |
Metro-Goldwyn-Mayer said Monday that it agreed to buy billionaire John Kluge's beleaguered film and television operations in a $573-million deal that will elevate MGM's entertainment library to one of Hollywood's largest. MGM, which itself was bought for $1.
January 14, 1997 |
Billionaire John Kluge, with frustrated shareholders breathing down his neck, wants to unload the entertainment assets of his publicly traded Metromedia International Group and has held exploratory talks with a few parties, including Morgan Creek Productions. Sources say Kluge wants to focus exclusively on the company's core business: telecommunications in Eastern Europe, Russia and China. Kluge may have been inspired by the recent $1.
December 6, 1996 |
Metromedia International Group Inc. Chief Executive Jack Phillips abruptly resigned from the movie studio and telecommunications company controlled by billionaire John Kluge. Phillips, who also stepped down as a member of the company's board, said he was leaving to pursue other business opportunities. Analysts said Phillips bolted because his control of the sprawling company was dwindling and he was left with few responsibilities.
December 6, 1996
Metromedia International Group Inc. Chief Executive Jack Phillips abruptly resigned from the movie studio and telecommunications company controlled by billionaire John Kluge. Phillips, who also stepped down as a member of the company's board, said he is leaving to pursue other business opportunities. Analysts said Phillips bolted because his control of the sprawling company was dwindling and he was left with few responsibilities.
February 1, 1996 |
The struggle over Samuel Goldwyn Co., one of Hollywood's few remaining independent film distributors, ended Wednesday when billionaire John Kluge's Metromedia International Group Inc. announced plans to acquire the company in a deal valued at $115 million. Metromedia's offer comes in two parts: $42.5 million in stock--$5 worth of Metromedia stock for each Goldwyn share--and the assumption of $72.5 million in bank debt that Goldwyn was under increasing pressure to pay.
September 1, 1994 |
Billionaire John Kluge is folding his ailing Orion Pictures and two other media companies into Atlanta-based holding company Actava Group to create a global media, entertainment and telecommunications company. The new company, Metromedia International, is being put together via a complicated four-way stock swap worth about $1 billion and positions Kluge to again be a major force in media and entertainment.
February 27, 1993 |
Billionaire John Kluge will merge the long-distance operations of his Metromedia Corp. with two other small carriers to create the nation's fourth-largest long-distance carrier. Analysts say the deal sets the stage for further acquisitions by New Jersey-based Metromedia as it tries gain more of the nation's growing long-distance phone market.