AboveNet Rises From MFN Ashes

AboveNet Inc., formerly Metromedia Fiber Network Inc., emerged from Chapter 11 bankruptcy protection today with a new name, renewed spirit and a nice chunk of cash to help it on its way (see AboveNet Emerges From Ch. 11).

”Last year we were considered a melting ice cube, but we’ve sold some assets, accumulated some cash, and have a healthy, growing customer base,” says John Gerdelman, president and CEO of AboveNet in an interview with Boardwatch.

Get the complete, icy lowdown on Boardwarch.— Jo Maitland, Senior Editor, Boardwatch