Plano, Texas--To update the images of their nearly 40-year-old steakhouse brands, Ponderosa and Bonanza, Metromedia Family Steakhouses has embarked on a "re-concepting" strategy. Four years ago, the company introduced a "New West ranch house" design for both restaurants, and MFS is currently focused on converting existing locations to the new design. The company also began a refranchising program and is selling company-owned locations to multiunit operators. -Sanderson & Associates Ltd.