Elliott Associates and Elliott International, two hedge fund firms, nominated Robert A.G. Monks and two of his associates at Lens Investment Management as candidates for directors of the board of Metromedia International Group Inc.
The nominations were made in a preliminary proxy statement filed with the SEC in which the hedge fund firms, which own 3.7% of Metromedia’s common stock, also expressed concern about Metromedia’s depressed stock price, asserting it could be worth more than $9 a share, net of debt. The stock closed yesterday at $2.62.
Mr. Monks is chairman of Lens. The other two nominees are John P.M. Higgins, Lens president and chief investment officer, and Robert B. Holmes, Lens senior adviser.
