1 EXHIBIT 11 THE ACTAVA GROUP INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (In thousands, except per share amounts) THREE MONTHS ENDED MARCH 31, 1994 1993 ------- ------- (LOSS) PER SHARE - PRIMARY Net (loss) available for Common Stock and Common Stock equivalents . . . . . . . . . . . . . . . . $(12,673) $(7,604) ======== ======= COMMON STOCK AND COMMON STOCK EQUIVALENTS Weighted average Fuqua common shares outstanding during the period, less stock in treasury . . . . . . . . . . . . . . . . . . . . . . . . 17,635 16,544 ======== ======= (Loss) Per Share - Primary . . . . . . . . . . . . . . . . . . . . $ (.72) $ (.46) ======== ======= (LOSS) PER SHARE - ASSUMING FULL DILUTION (A) Net (loss) available for Common Stock and Common Stock equivalents . . . . . . . . . . . . . . . . $(12,673) $(7,604) Interest savings on assumed conversion of 6 1/2% Convertible Debentures, net of income tax . . . . . . . . . . . . 827 827 -------- ------- Net (loss) available for Common Stock and Common Stock equivalents assuming full dilution . . . . . . . . . . . . . . . . . . . . $(11,846) $(6,777) ======== ======= Common Stock and Common Stock equivalents . . . . . . . . . . . . . 17,635 16,544 Shares issuable upon assumed conversion of 6 1/2% Convertible Debentures . . . . . . . . . . . . . . . . . . . 1,802 1,802 -------- ------- Common Stock and Common Stock equivalents assuming full dilution . . . . . . . . . . . . . . . . . . . . . . 19,437 18,346 ======== ======= (Loss) Per Share - Assuming Full Dilution . . . . . . . . . . . . . . . . . . . . . . $ (.61) $ (.37) ======== ======= (a) Fully diluted (loss) per share is not used in 1994 and 1993 because it results in less loss than primary (loss) per share.