Another former high-flying Internet company has collapsed : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

Former Internet media high-flyer crashes

Another former high-flying Internet company has collapsed.

The embattled Internet media company, LibertyOne, has gone into administration.

LibertyOne is a one-time stock market darling, its shares peaking above $2 late last year, with big plans for expansion into Asia.

But after this year's high-tech correction and a series of decisions disliked by the market, it closed yesterday at just over six cents.

A white knight appeared in October, in the form of a privately-run Hong Kong firm, I-reality.

But the company has now decided not to proceed with a $6 billion recapitalisation, and an administrator has been appointed to manage LibertyOne and decide its fate.

LibertyOne's demise follows that of another Internet high-flyer, Eisa, which has been taken over by Austar.

-- Carl Jenkins (, December 07, 2000

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