biz.yahoo.com
Tuesday May 30, 7:30 am Eastern Time
Company Press Release
SBC and Metromedia Fiber Network Sign $432 Million Dark Fiber Lease Agreement
SBC to Use MFN's Network to Expand National Footprint Across 30 Markets
NEW YORK--(BUSINESS WIRE)--May 30, 2000--Metromedia Fiber Network, Inc. (MFN) (Nasdaq:MFNX - news), the leader in deployment of optical Internet infrastructure within key metropolitan areas internationally, will lease fiber-optic infrastructure to SBC Communications, Inc. (NYSE:SBC - news) across the United States.
Valued at more than $432 million, this 20-year agreement will enable SBC to expand its out-of-region local market presence in 30 major markets. SBC plans to obtain dark fiber from MFN for the majority of the markets in its national expansion, giving the company high-bandwidth, ``last-mile'' connectivity. Those markets include MFN's previously announced U.S. networks, such as Philadelphia and Washington, D.C.
``This contract underscores the inherent value of MFN's expansive, carrier-neutral fiber network and will enable SBC to expand its reach to new markets in the most highly populated metropolitan areas of America,'' said Nick Tanzi, president and chief operating officer of Metromedia Fiber Network.
``This agreement with Metromedia Fiber Network is a major step forward for us in providing a full-service communications alternative to millions of businesses and consumers across the United States,'' said Ron Blake, president of SBC Telecom, Inc. ``MFN's global leadership in optical Internet infrastructure will provide us with the fiber network we need to expand our footprint, with exceptional speed to market, into a number of out-of-region geographic areas.''
About SBC
SBC Communications Inc. (www.sbc.com) is a global communications leader. Through its subsidiaries -- Southwestern Bell, Ameritech, Pacific Bell, SBC Telecom, Nevada Bell, SNET and Cellular One -- and world-class network, SBC provides local and long-distance phone service, wireless and data communications, paging, high-speed Internet access and messaging, cable and satellite television, security services and telecommunications equipment, as well as directory advertising and publishing. In the United States, the company currently has 90.4 million voice grade equivalent lines, 11.2 million wireless customers and is undertaking a national expansion program that will bring SBC service to an additional 30 markets. Internationally, SBC has telecommunications investments in 23 countries. With more than 204,000 employees, SBC is the 13th largest employer in the U.S., with annual revenues that rank it among the largest Fortune 500 companies.
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 Forms S-3, 10-K and 10-Q.
Contact:
Metromedia Fiber Network
Kara Carbone, 914/683-6386
kcarbone@mmfn.com
or
Neale-May & Partners
Layne Maly, 212/213-5400 ext. 206
lmaly@nealemay.com |
