Executive at Metromedia Fiber Network To Assume New Role
biz.yahoo.com
NEW YORK--(BUSINESS WIRE)--April 26, 2000--MFN announced that Howard Finkelstein, Vice Chairman, has elected to leave the Company effective with the expiration of his employment agreement. He will, however, continue to support MFN as a consultant to the Company.
Finkelstein, in his nineteen-year association with Metromedia Company and its partners John W. Kluge and Stuart Subotnick, has served as President or Chief Operating Officer of three Metromedia owned or affiliated telecommunications businesses. Finkelstein joined the Company, then named National Fiber Network, in early, 1997, having been recruited by Stephen Garofalo, the Chairman and Chief Executive Officer of MFN.
``The Company has experienced outstanding growth during Howard's tenure at the helm'', said Stephen Garofalo, ``Howard was the spark that we needed to so successfully launch MFN. We are delighted that Howard will be available to us on a consulting basis. We look forward to Howard being able to devote time to develop new ideas for MFN.''
Mr. Finkelstein said, ``The Company has gotten off to a strong start both operationally and in terms of its strategically significant business model. While there is still much to do, I am confident that the team we have created, with Nick Tanzi as MFN's President and a strong executive staff, will be able to succeed in taking MFN to its next level.''
John W. Kluge stated that, ``We at Metromedia will miss Howard and the role he has played. We look forward to new successes for Howard.''
Mr. Finkelstein will leave his Board position on April 30, 2000. It is anticipated that Mr. Tanzi will be elected in his stead.
About Metromedia Fiber Network
Metromedia Fiber Network, Inc., the leading provider of end-to-end optical network solutions, is revolutionizing the fiber optic industry. By offering virtually unlimited, unmetered bandwidth at a fixed cost, Metromedia Fiber Network is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Metromedia Fiber Network is extending metropolitan fiber optic infrastructure to the end user in strategic top-tier markets, enabling its customers to implement the latest data, video, Internet and multimedia applications. In addition to its current expansion in 51 cities in North America, Metromedia Fiber Network is establishing an international presence with planned fiber optic network builds in 16 cities throughout Europe.
Together with its subsidiaries, AboveNet Communications, Inc., a leading provider of co-location and Internet connectivity solutions, and Paix.net, Inc., the leading neutral Internet Exchange, Metromedia Fiber Network is unleashing the full potential of the Internet. The combined company facilitates the explosive growth of e-commerce and advanced Internet applications by delivering secure, reliable and scalable optical networks and IP services to Internet content and service providers, carriers and enterprise users worldwide. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com.
This news release contains certain forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as described from time to time in the SEC reports filed by Metromedia Fiber Network, including the Company's most recently filed Form S-3 and its annual report on Form 10-K for the year ended December 31, 1999. |
