MFN gets another extension
In the latest--and somewhat redundant--development in Metromedia Fiber Network’s funding saga, the company announced that it has received yet another extension from the financers to close a $235 million in vendor financing deal.
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The company, which faced a Sept. 12 deadline, now has until Sept. 17 to close the agreement.
The financing depends upon MFN closing several other funding agreements. In addition, the company must secure permission to delay payments to certain vendors. MFN has said that it will declare bankruptcy if it is unable to meet its funding goals.
--Toby Weber, staff writer
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© 2012 Penton Media Inc.
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