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Subject:  so at last the word is out; commons are dead? Date:  5/22/2003  4:00 AM
Author:  muffinXL Number:  2297 of 2302

One sentence draws the attention:

"Current common stockholders wouldn't receive any distribution under the company's Chapter 11 reorganization plan, and their shares would be canceled, according to the disclosure statement."

so we are officially dead, I assume. The end of a long process....
any reactions?

Metromedia Fiber Sees Enterprise Value Of $230M-$330M
Wednesday, May 21, 2003 04:43 PM ET Printer-friendly version

WASHINGTON (Dow Jones)--Metromedia Fiber Network Inc. (MFNXQ, news) said it estimates the enterprise value of the company will be between $230 million and $ 330 million once it emerges from bankruptcy protection.

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According to the disclosure statement the company filed explaining its Chapter 11 plan, the estimate doesn't include remaining cash for operating the business.

Should its plan be confirmed, Metromedia Fiber would continue providing fiber- optic infrastructure and high-ba