<PAGE>

                                                                      EXHIBIT 11
 
                          METROMEDIA INTERNATIONAL GROUP, INC.
                           Computation of Earnings Per Share
                        (in thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                                                  THREE MONTHS ENDED
                                                                                ----------------------
                                                                                 JUNE 30,      JUNE 30,
                                                                                   1997          1996
                                                                                 ---------    -----------
<S>                                                                             <C>           <C>
Loss Per Share--Primary
 Loss from continuing operations.............................................    $ (46,609)    $ (16,428)
 Loss from discontinued operations...........................................      (25,263)       (2,422)
 Loss from extraordinary item................................................       (1,094)           --
                                                                                  ---------    -----------
 Net loss available for common
 stock and common stock equivalents..........................................    $ (72,966)    $ (18,850)
                                                                                  ---------    -----------
                                                                                  ---------    -----------

Common stock and common stock equivalents (A)
 Weighted average common shares outstanding 
 during the period............................................................      66,186        42,661
                                                                                  ---------    -----------
                                                                                  ---------    -----------

Loss Per Share--Primary
 Continuing operations........................................................   $   (0.70)    $   (0.38)
 Discontinued operations......................................................       (0.38)        (0.06)
 Extraordinary item...........................................................        (.02)           --
                                                                                  ---------    -----------
 Net loss.....................................................................   $   (1.10)    $   (0.44)
                                                                                  ---------    -----------
                                                                                  ---------    -----------
Loss Per Share--Assuming Full Dilution (B)

</TABLE>
 
<TABLE>
<CAPTION>
                                                                                     SIX MONTHS ENDED
                                                                                  -----------------------
                                                                                   JUNE 30,     JUNE 30,
                                                                                     1997         1996
                                                                                  ---------   -----------
<S>                                                                               <C>           <C>
Loss Per Share--Primary
 Loss from continuing operations..............................................   $ (58,764)    $ (29,251)
 Loss from discontinued operations............................................     (35,366)       (8,740)
 Loss from extraordinary item.................................................      (1,094)           --
                                                                                  ---------    -----------
 Net loss available for common
  stock and common stock equivalents..........................................   $ (95,224)    $ (37,991)
                                                                                  ---------    -----------
                                                                                  ---------    -----------
Common Stock and Common Stock Equivalents (A)
 Weighted average common shares outstanding
  during the period...........................................................      66,171        42,638
                                                                                  ---------    -----------
                                                                                  ---------    -----------
Loss Per Share--Primary
 Continuing operations........................................................   $   (0.89)    $   (0.69)
 Discontinued operations......................................................       (0.53)        (0.20)
 Extraordinary item...........................................................        (.02)           --
                                                                                  ---------     -----------
 Net loss.....................................................................   $   (1.44)    $   (0.89)
                                                                                  ---------     -----------
                                                                                  ---------     -----------

Loss Per Share--Assuming Full Dilution (B)
</TABLE>
 

 
(A) Common stock equivalents are not included in primary loss per share in 
the three and six months ended June 30, 1997 and 1996 because they would be 
anti-dilutive. 

(B) Fully diluted loss per share is not used in the three and six months 
ended June 30, 1997 and 1996 because it is less than primary loss per share.