CalPERS vs. Metromedia



Introduction2

Event Windows2

Corporate Transactions3

Fund Management and Investments4

Augmenting Investor price5

Stockholders proposal6

Responsibility of Administrators to Stockholders7

MMG decline in Share Value9

Analysis and Recommendation10

CalPERS vs. Metromedia

Introduction

Metromedia was an ease of radio and television studio that was located in 5746 on Sunset Boulevard in Hollywood, Los Angeles, California, in the southeastern corner of Sunset and Van Ness Avenue. For decades, was recognized by the white snake on the building's roof. This work of art was called "Starsteps" and was dismantled when ownership of the building changed in 2000. The site was originally known as the Nassour Studio, built in 1946 and opened on January 1, 1947, by brothers William and Edward Nassour (1911-1962) . More than 100 independent films were recorded under the banner of Nassour Studio. Originally, there were four sound stages ranging in size from around 7,600 square feet (710 m²) to just over 13,000 square feet (1,200 m²). Nassour had a screening room and number of offices were decorated in the modern style of Art Deco , and the buildings were located in front of Sunset.

An old building with two-story apartment, which was located down the street on Van Ness housed producers and writers. The big stage, stage 4, had removable panels that hid a water tank. Was used to film scenes in Africa Screams (1949) revolved around a jungula River. The lot was very small (about four acres), for an underground storage was necessary. A large cargo elevator was installed for access.

Event Windows

Corporate Transactions

November 30, 2000

Richard A. Bennett, a Principal of Lens Investment Management, LLC, the shareowner activist organization, has filed a proper criticism against Metromedia International group, Inc. [AMEX: MMG], the heterogeneous world media company, below Section 220 of Delaware General law. In Section 220, shareholders have a right to demand access to company books and records. Lens is seeking to examine the records to see whether or not John W. Kluge, Metromedia Chairman, and Stuart Subotnick, Vice-Chairman, President and Chief military officer of Metromedia, have broken their fiduciary duties by participating in connected party transactions or by otherwise below the belt making the most of Metromedia International at the expense of its public shareholders. Lens has sought-after access to Metromedia International records, however has been unable to get permission from the corporate.

“It's unfortunate this action is critical. We tend to area unit merely seeking to exercise our rights as shareholders,” same Richard A. Bennett, Lens' Chief policy Officer. “Metromedia may be a terribly tough company to research and it's vital to see the link of company executives to the beneficiaries of transactions with the corporate.”

Metromedia International group, Inc. may be a world communications and media company operational telecommunication and TV businesses in Japanese Europe, the republics of the previous land and different rising markets. The corporate conjointly owns the field and garden instrumentality manufacturer, Snapper, that it's known as a “non-core” plus. Based in 1991 by Robert A.G. Monks as AN investment management firm, Lens was among the primary fund managers to require an energetic role ...