As filed with the Securities and Exchange Commission on July 14, 2006
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 11, 2006
METROMEDIA INTERNATIONAL GROUP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-5706 58-0971455
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
8000 Tower Point Drive, Charlotte, NC 28227
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (704) 321-7380
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
On July 11, 2006, Metromedia International Group, Inc. (the "Company"), the
owner of interests in communications businesses in the country of Georgia,
announced that the Company has formed a subsidiary to compete in Georgia's fixed
line telephony and data communication markets ("New Fixed Line Business"). The
move aims to complement and reinforce the market-leader position of Magticom,
the Company's majority-owned Georgian mobile telephony operator. The Company
contributed its 81% ownership percentage in Telecom Georgia, a Georgian company
that provides international long distance calling services and operates an
extensive transit network interconnecting all of Georgia's principal
telecommunications carriers, and cash to the New Fixed Line Business so that it
could acquire Telenet, a Georgian company providing internet access, data
communication, voice telephony and international access services. Telenet's
former owners each obtained a minority interest in the New Fixed Line Business
as partial consideration for the acquisition. The Company also sold a minority
interest in the holding company that owns the Company's interest in the New
Fixed Line Business to its Georgian partner in Magticom for cash. The Company
and its partners in the New Fixed Line Business are now evaluating further
acquisitions in Georgia to rapidly expand the subsidiary's competitive presence.
Telenet has Georgia's only license to provide CDMA 450 MHz wireless voice
and data services and a CDMA 450 network deployed in Georgia's capital city,
Tbilisi. The target markets of Telecom Georgia and Telenet are office and
residential consumers of fixed location telephony and data communication
services; and both companies have well-established Georgian brands in these
markets.
On July 13, 2006, the Company announced that, although it has not fully
completed the previously disclosed restatement activities required for the
Company to file its Annual Report of Form 10-K for the fiscal year ended
December 31, 2004 ("2004 Form 10-K), the Company intends to release preliminary
financial results, through December 31, 2005, for its principal Georgian
business, Magticom, within the next thirty days.
The press releases announcing these matters is attached hereto as Exhibits
99.1 and 99.2 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release of Metromedia International Group, Inc.,
dated July 11, 2006.
99.2 Press Release of Metromedia International Group, Inc.,
dated July 13, 2006.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
METROMEDIA INTERNATIONAL GROUP, INC.
By: /S/ HAROLD F. PYLE, III
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Name: Harold F. Pyle, III
Title: Executive Vice President Finance,
Chief Financial Officer and Treasurer
Date: July 14, 2006
Charlotte, NC