CFO Publishing Selects Metromedia Fiber Network for Outsourced Internet Managed Services.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--April 18, 2001 CFO See Chief Financial Officer. .com, a division of CFO Publishing and a leading online resource for senior financial executives, has selected SiteSmith, a subsidiary of Metromedia Fiber Network (Nasdaq:MFNX), for outsourced Internet managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality . CFO Publishing selected SiteSmith because it was the only comprehensive Internet infrastructure services company capable of managing CFO.com's existing infrastructure and significantly improving the performance of the site without a major technology overhaul. SiteSmith, which was acquired by MFN MFN abbr. most-favored nation in February 2001, provides the technology and services that automate To turn a set of manual steps into an operation that goes by itself. See automation. the construction and management of complex Internet sites to ensure site performance, reliability, security and scalability. By outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. its mission-critical infrastructure needs to Sitemith, CFO.com is able to focus its resources on its core business, which is to provide access to relevant information and business tools to help senior financial executives perform their jobs more effectively. "Choosing SiteSmith to manage our Internet infrastructure was an easy decision," said Rob Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , chief technology officer for CFO.com. "They offer the world-class experience and best-of-breed technology, combined with superior customer service, to ensure that our business operates at peak efficiency 100 percent of the time. And because we never have to worry about whether our servers need upgrading or whether we're operational, we can concentrate all our efforts on providing quality service to our customers." "As a leading online source for senior financial executives, CFO Publishing understands the role that Internet infrastructure plays in delivering timely information online," said Mark Spagnolo, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SiteSmith. "By turning to us, CFO.com has the Internet infrastructure in place to support its customers' needs for a reliable, secure and fully operational site 24 hours a day, seven days a week." About CFO.com CFO.com is the online workspace for the evolving world of the senior financial executive. The site provides insight and analysis on current business and finance industry events through proprietary content developed by CFO.com's own editorial team of finance experts. Aggregating a robust set of tools and applications, CFO.com provides a vital resource for corporate financial leaders. A division of CFO Publishing and a partner to CFO Magazine and CFO Enterprises, CFO.com is fully owned by The Economist Group. For more information, visit www.cfo.com. About Metromedia Fiber Network, Inc. Metromedia Fiber Network, Inc., the leader in deployment of optical and IP infrastructure within key metropolitan areas domestically and internationally, is revolutionizing the fiber-optic industry. By offering virtually unlimited, unmetered metro-area communications capacity at a fixed cost, Metromedia Fiber Network is eliminating the bandwidth barrier and redefining the way broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). capacity is sold. MFN's optical network enables its customers to implement the latest data, video, Internet and multimedia applications. Through its subsidiaries AboveNet Communications, Inc., the architect of the Internet Service Exchange (ISX ISX InstallShield Express (Setup software) ISX Internet Service Exchange (Abovenet) ISX Insoluble Starch Xanthate ISX Information Superiority Experiments ISX Infrastructure ISX Incisive Software Extensions ), PAIX PAIX Palo Alto Internet Exchange (Palo Alto, CA peering facility) .net, Inc., the first and leading neutral Internet exchange See IXP and NAP. , and SiteSmith, a leader in delivering comprehensive Internet infrastructure managed services, MFN is a leading provider of Internet connectivity, co-location and managed services solutions for high-bandwidth and business-critical applications. The Company offers a world-class network that provides co-location services and Internet connectivity for content providers, ISPs and application service providers. Its global optical Internet uses open peering and "best exit" technology to deliver fast, scalable and reliable connections to the Internet, and improves the Internet experience for end-users. For more information on AboveNet and its service offering visit the company's Web site at www.above.net. For more information about PAIX.net, Inc., visit the company's Web site at www.paix.net. For more information about SiteSmith, visit the company's Web site at www.sitesmith.com. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as are described from time to time in the SEC reports filed by Metromedia Fiber Network including the most recently filed Forms S-3, 10-K, and 10-Q. |
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