Editing Metromedia (section)

===Ownership of film studios===
On May 22, 1986, Metromedia acquired a 6.5% stake in [[Orion Pictures|Orion Pictures Corporation]]; a movie and television production studio.<ref name="Chicago Tribune 1986-6-3">[https://www.chicagotribune.com/1986/06/03/metromedias-orion-stake/ Metromedia's Orion Stake], chicagotribune.com</ref> By December, the stake in Orion's ownership was increased from 9.3% to 12.6% and on April 12, 1988, to 44.1%<ref name="New York Times 1988-4-12">[https://www.nytimes.com/1988/04/12/business/company-news-metromedia-s-orion-stake.html Metromedia's Orion Stake], newyorktimes.com</ref> On May 20, 1988, Metromedia acquired [[Sumner Redstone]]'s share for $78 million, holding a majority stake in Orion Pictures worth nearly 67%. In 1995, Kluge merged Orion, MCEG Sterling Entertainment (producer of the ''[[Look Who's Talking]]'' series), the holding company Actava, and Metromedia into a new Metromedia International Group.<ref>{{Cite news| issn = 0458-3035| last = BATES| first = JAMES| title = Orion to Be Folded Into Global Media Concern : Entertainment: Billionaire John Kluge's expanded Metromedia International would be formed via a four-way stock swap worth $1 billion.| work = Los Angeles Times| access-date = January 27, 2019| date = September 1, 1994| url = https://www.latimes.com/archives/la-xpm-1994-09-01-fi-33634-story.html}}</ref> In November 1995, Metromedia announced that it would acquire [[Motion Picture Corporation of America]] (MPCA) for $32 million, followed by [[The Samuel Goldwyn Company]] for $115 million in February 1996.<ref>{{cite news|url=https://apnews.com/article/ee5af2c2cc86a7665ef416eb8523a9da|title=Metromedia to Acquire Motion Picture Corporation of America|agency=[[Associated Press|AP]]|date=November 28, 1995|accessdate=November 9, 2022}}</ref><ref>{{cite news|url=https://www.nytimes.com/1996/02/01/business/company-news-at-115-million-a-buyer-for-samuel-goldwyn.html|title=COMPANY NEWS;AT $115 MILLION, A BUYER FOR SAMUEL GOLDWYN|newspaper=The New York Times|date=February 1, 1996|accessdate=November 9, 2022}}</ref> On April 11, 1997, Metromedia sold Orion/Goldwyn and MPCA to [[Metro-Goldwyn-Mayer]] (MGM) for $573 million and was closed on July 10 of the same year.<ref name="Metromedia">Bates, James. [https://www.nytimes.com/1997/04/29/business/metromedia-to-sell-film-units-to-mgm-for-573-million.html "Metromedia to Sell Film Units to MGM for $573&nbsp;million."] ''[[The New York Times]].'' April 29, 1997.</ref><ref>"Years of Hits, Misses Comes to Close." ''[[Daily News of Los Angeles]].'' July 10, 1997; Bates, James. "MGM Lays Off 85 in Metromedia Film, TV Units." ''Los Angeles Times.'' July 11, 1997.</ref> In 1998, MPCA broke apart from MGM becoming independent again.