METROMEDIA BUYS WARRANT FOR SHARES OF ORION <Metromedia Co> said it purchased from Time Inc's <TL> Home Box Office Inc a warrant to purchase 800,000 shares of common stock of Orion Pictures Corp <OPC>. The price for the warrant was 10 mln dlrs, Metromedia said. It added that it now owns 16.4 pct of the outstanding common stock of Orion.