Metromedia International on notice from trustee over financials

By Jeff Pines

Washington, Nov. 22 - Metromedia International Group Inc. said it received notice from U.S. Bank NA, the trustee for its series A and B 10½% senior discount notes due 2007, because it has yet to file its 10-Q for the quarter end Sept. 30 with the Securities and Exchange Commission or provide the trustee with one.

Charlotte, N.C.-based Metromedia has until Jan. 18, 2005 to avoid a default.

Metromedia received a similar notice from the trustee in May because it had not filed its 10-K annual report on time.

Earlier this month, Metromedia, which owns interests in communications business in Russia and the Republic of Georgia, said a group of investors is considering buying the company. If this were to occur, the company would retire the notes.

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