Metromedia International Group Delays Filing of its Third Quarter 2002 Form 10-Q.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--Nov. 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 Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. , 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 September 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 application of Statement of Financial Accounting Standards ("SFAS SFAS Statement of Financial Accounting Standards SFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System ") No. 144 "Accounting for the Impairment of Long-Lived Assets" and SFAS No. 142 "Goodwill and Intangible Assets" to certain of the Company's businesses and to finalize its management discussion and analysis of financial condition and results of operations to reflect such analysis. The Company expects that it will file its Form 10-Q, with the Securities and Exchange Commission, before the end of November 2002. About Metromedia International Group Metromedia International Group, Inc. is a global communications and media company. Through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. 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 and FM radio stations. 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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