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ORION PICTURES CORP. ANNOUNCES ITS BOARD OF DIRECTORS HAS AUTHORIZED THE COMPANY TO CONCLUDE AND FILE A PLAN OF REORGANIZATION

ORION PICTURES CORP. ANNOUNCES ITS BOARD OF DIRECTORS HAS AUTHORIZED
      THE COMPANY TO CONCLUDE AND FILE A PLAN OF REORGANIZATION
    NEW YORK, June 26 /PRNewswire/ -- Orion Picture Corporation (NYSE: OPC) announced today that its board of directors has authorized the company to conclude and file (jointly with Metromedia Company, its principal shareholder) a plan of reorganization in the Bankruptcy Court for the Southern District of New York.  The elements of the plan, which were previously announced by the company upon its and Metromedia's reaching an agreement in principle with the Unsecured Creditors Committee, will be embodied in a definitive plan and related disclosure statement, which the company and Metromedia expect to file with the court in the near future.
    -0-                    6/26/92
    /CONTACT:  Michael Sitrick or Amy Goldberg of Sitrick and Co., 310-788-2850, for Orion Pictures; or Paul Wagner of Orion Pictures, 212-632-5745/
    (OPC) CO:  Orion Pictures Corp. ST:  New York IN:  ENT SU: JL-EH -- LA006 -- 4077 06/26/92 08:00 EDT
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Publication:PR Newswire
Date:Jun 26, 1992
Words:164
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