Metromedia Fiber Network Forms Alliance With Second Largest Canadian Telecommunications Company
May 12, 1999 11:00 AM
NEW YORK--(BUSINESS WIRE)--May 12, 1999--
Agreements With BCT.TELUS Will Enable Company to Enter Toronto, First Tier One Canadian Market
Further expanding on the depth of its high-bandwidth intra-city networks in both international and domestic Tier One metropolitan markets, Metromedia Fiber Network, Inc. (MFNX) today announced letters of intent for several major agreements with BCT.TELUS, providing the company, through a Canadian subsidiary, with access to Canada's rich telecommunications marketplace.
The first agreement will enable Metromedia Fiber Network to extend its North American reach into Toronto, Canada, mirroring the intra-city dark fiber strategy being deployed throughout the United States and in Europe. Under the additional agreements, Metromedia Fiber Network will lease dark fiber to BCT.TELUS on a transcontinental route it has received under a previously announced swap agreement. BCT.TELUS will agree to light and operate fiber and provide Metromedia Fiber Network with the capability to extend seamless connectivity between customer locations in the United States and Canada. The transactions are contingent upon completion and execution of definitive agreements.
In Toronto, the banking and financial capital of Canada, Metromedia Fiber Network will obtain a high-density fiber optic network which, when complete, will extend throughout the greater Toronto metropolitan area, covering more than 118 route kilometers. This network will allow Metromedia Fiber Network to provide customers in Toronto with the same virtually unlimited bandwidth, unmetered, private dark fiber offering available in Tier One metropolitan markets in the United States and Europe.
"We remain steadfast in our strategy of building out high-capacity networks in major metropolitan markets while seeking out opportunities to add value for our clients by linking those markets across international borders," said Howard Finkelstein, president of Metromedia Fiber Network. "Our agreements with BCT.TELUS and the planned fiber optic infrastructure in Toronto will establish another beachhead for continued expansion of our dark fiber intra-city networks throughout key cities in North America and Europe."
Through the additional agreements Metromedia Fiber Network will be able to provide coast-to-coast connectivity to its customers on a network that extends from New York through Montreal, Toronto, Detroit, Chicago, Vancouver and Seattle. |
