Metromedia International CEO Resigns

Metromedia International Group Inc. Chief Executive Jack Phillips abruptly resigned from the movie studio and telecommunications company controlled by billionaire John Kluge. Phillips, who also stepped down as a member of the company’s board, said he was leaving to pursue other business opportunities. Analysts said Phillips bolted because his control of the sprawling company was dwindling and he was left with few responsibilities. Stuart Subotnick, Metromedia’s vice chairman and Kluge’s close aide, has assumed Phillips’ roles. Kluge, 81, remains as chairman. Phillips is the second high-profile executive to leave Metromedia in recent months. This summer, Frederick Beilstein, the company’s chief financial officer, was named president and CEO of HFS Inc.’s ERA Franchise Systems Inc. unit.