COMPANY TOWN ANNEX

Actava Completes Merger With 3 Kluge Firms: Shareholders of Actava Group and three media and telecommunications concerns controlled by billionaire John Kluge completed their four-way stock swap, creating a $1-billion company. Shares in the new Metromedia International Group will begin trading today on the New York Stock Exchange. Metromedia International will combine Actava with Orion Pictures, the struggling Hollywood studio controlled by Kluge; MCEG Sterling, a television and movie distribution concern that controls about 250 movies, and Metromedia International, Kluge’s radio, cable TV and cellular telephone holdings in Eastern Europe and Russia. Actava chief John Phillips will be president and chief executive of the new company. Stuart Subotnick, a Kluge aide, will be vice chairman.