<PAGE>

EXHIBIT 11

                          METROMEDIA INTERNATIONAL GROUP, INC. 
                            Computation of Earnings Per Share 
                        (in thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                                                           THREE MONTHS ENDED
                                                                                      ----------------------------
<S>                                                                                   <C>            <C>
                                                                                      SEPTEMBER 30,  SEPTEMBER 30,
                                                                                          1997           1996
                                                                                      -------------  -------------
Income (Loss) Per Share--Primary
  Continuing operations.............................................................   $   (31,279)    $ (13,263)
  Cumulative convertible preferred stock dividend requirement.......................          (584)       --
                                                                                      -------------  -------------
  Continuing operations attributable to common stock................................       (31,863)      (13,263)
  Discontinued operations...........................................................       252,485       (25,092)
  Extraordinary items...............................................................       (13,598)       (4,505)
                                                                                      -------------  -------------
  Net income (loss) available for common stock and common stock equivalents.........   $   207,024     $ (42,860)
                                                                                      -------------  -------------
                                                                                      -------------  -------------
Common stock and common stock equivalents (A) 
  Weighted average common stock and common stock equivalents outstanding during 
   the period.......................................................................        69,377        65,482
                                                                                      -------------  -------------
                                                                                      -------------  -------------
Income (Loss) Per Share--Primary
  Continuing operations.............................................................   $     (0.46)    $   (0.20)
  Discontinued operations...........................................................          3.64         (0.39)
  Extraordinary items...............................................................         (0.20)        (0.07)
                                                                                      -------------  -------------
  Net income (loss).................................................................   $      2.98     $   (0.66)
                                                                                      -------------  -------------
                                                                                      -------------  -------------
Income (Loss) Per Share--Fully Diluted (B)
  Continuing operations.............................................................       (31,279)
  Discontinued operations...........................................................       252,485
  Extraordinary items...............................................................       (13,598)
                                                                                      -------------  
  Net income (loss) available for common stock and common stock equivalents.........   $   207,608
                                                                                      -------------  
                                                                                      -------------  
Common stock, common stock equivalents and convertible securities
  Weighted average common stock, common stock equivalents and convertible 
    securities outstanding during the period........................................        71,628
                                                                                      -------------  
                                                                                      -------------  
Income (Loss) Per Share--Fully Diluted
  Continuing operations.............................................................   $     (0.44)
  Discontinued operations...........................................................          3.53
  Extraordinary items...............................................................         (0.19)
                                                                                      -------------
 
  Net income........................................................................   $      2.90
                                                                                      -------------  
                                                                                      -------------  
</TABLE>
 
(A)Common stock equivalents are not included in primary loss per share in the
three months ended September 30, 1996 because they would be anti-dilutive.

(B)Fully diluted loss per share is not used in the three months ended September
30, 1996 because it is less than primary loss per share.

                                          1 
<PAGE>

EXHIBIT 11

                       METROMEDIA INTERNATIONAL GROUP, INC. 
                        Computation of Earnings Per Share 
                     (in thousands, except per share amounts)
 
<TABLE>
<CAPTION>
                                                                                           NINE MONTHS ENDED
                                                                                      ----------------------------
<S>                                                                                   <C>            <C>
                                                                                      SEPTEMBER 30,  SEPTEMBER 30,
                                                                                          1997           1996
                                                                                      -------------  -------------
Income (Loss) Per Share--Primary
  Continuing operations.............................................................   $   (90,742)    $ (42,514)
  Cumulative convertible preferred stock dividend requirement.......................          (584)       --
                                                                                      -------------  -------------
  Continuing operations attributable to common stock................................       (91,326)      (42,514)
  Discontinued operations...........................................................       217,818       (33,832)
  Extraordinary items...............................................................       (14,692)       (4,505)
                                                                                      -------------  -------------
  Net income (loss) available for common stock and common stock equivalents.........   $   111,800     $ (80,851)
                                                                                      -------------  -------------
                                                                                      -------------  -------------
Common stock and common stock equivalents (A) 
  Weighted average common stock and common stock equivalents outstanding 
    during the period...............................................................        68,070        50,311
                                                                                      -------------  -------------
                                                                                      -------------  -------------
Income (Loss) Per Share--Primary
  Continuing operations.............................................................   $     (1.34)    $   (0.84)
  Discontinued operations...........................................................          3.20         (0.67)
  Extraordinary items...............................................................         (0.22)        (0.09)
                                                                                      -------------  -------------
  Net income (loss).................................................................   $      1.64     $   (1.60)
                                                                                      -------------  -------------
                                                                                      -------------  -------------
Income (Loss) Per Share--Fully Diluted (B)
  Continuing operations.............................................................       (90,742)
  Discontinued operations...........................................................       217,818
  Extraordinary items...............................................................       (14,692)
                                                                                      -------------  
Net income (loss) available for common stock and common stock equivalents...........   $   112,384
                                                                                      -------------  
                                                                                      -------------  
Common stock, common stock equivalents and convertible securities
  Weighted average common stock, common stock equivalents and convertible 
    securities outstanding during the period........................................        69,096
                                                                                      -------------  
                                                                                      -------------  
Income (Loss) Per Share--Fully Diluted
  Continuing operations.............................................................   $     (1.31)
  Discontinued operations...........................................................          3.15
  Extraordinary items...............................................................         (0.21)
                                                                                      -------------  
  Net income........................................................................   $      1.63
                                                                                      -------------  
                                                                                      -------------  
</TABLE>
 
(A)Common stock equivalents are not included in primary loss per share in the
nine months ended September 30, 1996 because they would be anti-dilutive.

(B)Fully diluted loss per share is not used in the nine months ended September
30, 1996 because it is less than primary loss per share.
 
                                       2