Close

Search

Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
SPECIAL ANNOUNCEMENT
2016 Photonics Buyers' Guide Clearance! – Use Coupon Code FC16 to save 60%!
share
Email Facebook Twitter Google+ LinkedIn Comments

Metromedia Fiber Announces Termination of Fiber Optic Agreements

Photonics.com
Apr 2002
NEW YORK, April 10 -- Metromedia Fiber Network Inc. has received notices from Verizon Global Networks and Genuity Solutions terminating its respective fiber optic agreements with MFN. These agreements call for the company to lease capacity to Verizon and Genuity on the company's fiber optic network and for Verizon and Genuity to make total payments to the company of $350 million and $200 million, respectively, of which $235 million and $140 million, respectively, have already been paid to MFN.

Verizon is continuing to engage in discussions with MFN concerning their relationship. Metromedia Fibers said it expects to begin negotiations with the holders of its other indebtedness for consensual restructuring.



Comments
Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2016 Photonics Media
x We deliver – right to your inbox. Subscribe FREE to our newsletters.