June 27, 1999. Metromedia Fiber Network operates a 380,000 mile fiber-optic communications network in the New York, Chicago, Philadelphia, and Washington metropolitan areas. They provide access to their network through lease arrangements with communications carriers, including local exchange carriers, long distance, paging, cellular, PCS, cable companies, internet service providers, and corporate and government customers.

Metromedia is expanding into U.S. to U.K. services through a joint venture with Racal Telecom. Metromedia Fiber has grabbed a niche in the telecommunications wars and is now adding new services to increase the value of that niche.

The company began by specializing in providing fiber-optic connections to companies in major areas. A deal signed with Williams Companies in late May gave Metromedia Fiber the ability to hook up their local fiber loops with Williams' coast to coast network so that customers with multiple offices could easily link their broadband connections.

On June 23, Metromedia Fiber announced that it would acquire AboveNet Communications, a provider of leased internet networks and a host of server farms for companies such as RealNetworks. I'm looking for the price range of $65-$70 by June 2000. Ticker symbol: MFNX.

George