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Opposition builds to Kluge's Metromedia reign.(John Kluge's Metromedia International Group )(Brief Article)
Byline: Peter Lauria
The already hostile relationship between John Kluge's Metromedia International Group and its shareholders grew even more antagonistic Sept. 28 when independent proxy adviser Institutional Shareholder Services and two shareholder groups endorsed board candidates nominated by Elliott Associates LP.
The California Public Employees' Retirement System and Snyder Capital Management, Metromedia's largest independent shareholder with a 7.6% stake, also disclosed their support for Elliott's board members Friday.
Elliott, owner of a 4% stake in Metromedia, hired shareholder activist firm Lens Investment Management llc to launch a proxy …
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