On Mon, Mar 18, 2002 at 10:19:30AM -0800, Rusty H. Hodge wrote: > > Metromedia said it is seeking to restructure its debts. As of Feb. > 28, it had $3.3 billion of consolidated debt and about $37.3 million > in cash. A restructuring could substantially dilute the value held by > stockholders, the company said. ... > To raise cash, Metromedia said it plans to sell the facilities of its > Internet exchange, PAIX, for about $50 million cash and an equity > interest in the buyer. A substantial part of the proceeds from the > sale, expected to close in the second quarter, will be used to pay > down debt, it said.
$50 mil down, $3.25 billion to go... -- Richard A Steenbergen <[EMAIL PROTECTED]> http://www.e-gerbil.net/ras PGP Key ID: 0x138EA177 (67 29 D7 BC E8 18 3E DA B2 46 B3 D8 14 36 FE B6)