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