CaucusCom extends tender offer for Metromedia; Fursa weighs in

By Lisa Kerner

Charlotte, N.C., Aug. 15 - CaucusCom Ventures LP extended its tender offer for all outstanding shares of Metromedia International Group, Inc. common stock until midnight ET on Aug. 21.

The tender was originally slated to end on Aug. 14. However, as of that date only 43.2% of the company's stock, or some 44,583,308 shares, had been tendered.

CaucusCom began its $1.80-per-share cash tender offer for Metromedia on July 18.

Fursa Alternative Strategies LLC, also in discussions to acquire Metromedia, said it is "pleased" that Metromedia shareholders did not "prematurely" tender their shares. The hedge fund management company's latest offer for Metromedia is $2.05 cash per share, and Fursa said it is working quickly to complete due diligence to finalize its offer.

Fursa, a 7.7% stakeholder, also reiterated confidence "in its ability to obtain the necessary financing for the transaction," according to a company statement.

Metromedia is a Charlotte, N.C., communications company.

CaucusCom is an affiliate of Salford Georgia and Compound Capital Ltd.

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