Metromedia International Group Delays Filing of Its Second Quarter 2002 Form 10-Q.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 20, 2002 Metromedia International Group, Inc. (the Company) (AMEX AMEX See: American Stock Exchange :MMG MMG Macquarie Media Group MMG Ministry Medical Group MMG Medium Machine Gun MMG Mobile Messaging Gateway MMG Master of Management MMG Meridian Management Group, Inc. ), the owner of various interests in communications and media businesses in Eastern Europe, the Commonwealth of Independent States Commonwealth of Independent States (CIS), community of independent nations established by a treaty signed at Minsk, Belarus, on Dec. 8, 1991, by the heads of state of Russia, Belarus, and Ukraine. Between Dec. 8 and Dec. and other emerging markets, today announced that it would delay the filing of its Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2002 with the Securities and Exchange Commission. The delay in the Form 10-Q filing is attributable to the additional effort and time that was required for the Company to complete its analysis of the US GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). carrying value Carrying Value Also know as "book value," it is a company's total assets minus intangible assets and liabilities, such as debt. Notes: This is different than market value, as it can be higher or lower depending on the circumstances. of certain of its businesses and finalize its management discussion and analysis of the Company's financial condition and results of operations. On August 15, 2002, the Company had previously reported its preliminary financial results for the three and six months ended June 30, 2002. The Company expects to file its Form 10-Q later this week with the Securities and Exchange Commission. About Metromedia International Group Metromedia International Group, Inc. is a global communications and media company. Through its wholly owned subsidiaries and its business ventures, the Company owns and operates communications and media businesses in Eastern Europe, the Commonwealth of Independent States, China and other emerging markets. These include a variety of telephony businesses including cellular operators, providers of local, long distance and international services over fiber-optic and satellite-based networks, international toll calling, fixed wireless local loop, wireless and wired cable television networks and broadband networks, FM radio stations, and e-commerce. The Company also owns Snapper snapper, name for members of the Lutianidae, a family of spiny-finned food and game fishes found chiefly in tropical coastal waters. Snappers are carnivorous, active, and voracious, with large mouths and sharp teeth. Most species travel in dense schools. , Inc. Snapper manufactures premium-priced power lawnmowers, garden tillers, snow throwers, utility vehicles and related parts and accessories. This news release contains certain forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as are described from time to time in the SEC reports filed by Metromedia International Group, Inc., including its most recently filed quarterly report on Form 10-Q and the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001. The Company is not under, and expressly disclaims any, obligation to update the information in this news release for any future events, including changes in its cash balances or other events affecting liquidity. Please visit our website at www.metromedia-group.com. |
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