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Technology Stocks : Son of SAN - Storage Networking Technologies
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To: Carolyn who wrote (1541)10/27/1999 11:12:00 AM
From: elmatador  Read Replies (2) of 4808
 
Metromedia, Storage Networks Sign $96 Million Dark Fiber Deal
October 27, 1999
By Maura Ginty
International Editor

Metromedia Fiber Network, Inc. Wednesday inked a 20-year, $96 million agreement with
StorageNetworks to lease dark fiber to the storage service provider.

StorageNetworks will have access to Metromedia's (MFNX) global infrastructure and will also receive
high-speed, high-bandwidth dark fiber infrastructure in major metropolitan areas of the United States

StorageNetworks will use the capacity to connect its storage points of presence to its global data
storage network. StorageNetworks will use the lease agreement to enhance the company's continuity
and disaster recovery services, including restoration and data sharing.

The deal represents Metromedia's first agreement with a data storage company, and Metromedia calls
the deal a demonstration of the need for dark fiber in the enterprise network market.

StorageNetwork explains that as businesses require storage of larger amounts of data as well as
instant access to that information, the company expects more enterprise users to move from
center-based Storage Area Networks (SANs) to outsourced data management. The company predicts
that the market could reach $10 billion this year and will continue to grow at 32 percent annually.

Metromedia has raked in some major deals this month through its fiber network. Since Oct. 5,
Metromedia signed a $550 million dark fiber deal with Bell Atlantic sweetened by a $1.9 billion
investment and signed a $300 million dark fiber agreement with WinStar.

COMMENTS FROM ELMATADOR:
Roll on the next next gen networks!!
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