ɪn sɛptˈɛmbɚ tˈuː θˈaʊzənd θɹˈiː, ðə kˈʌmpəni ɪmˈɜːdʒd fɹʌm bˈæŋkɹʌptsi ænd tʃˈeɪndʒd ɪts nˈeɪm tʊ ɐbˌʌvnˈɛt, wɪð kɹˈeɪɡ mə kˈɔː, fɹˈæŋklɪn mjˈuːtʃuːəl ɐdvˈaɪzɚz, ænd dʒˈɑːn klˈuːdʒ ɐmˌʌŋ ɪts lˈɑːɹdʒɪst ʃˈɛɹhoʊldɚz.
In September 2003, the company emerged from bankruptcy and changed its name to Abovenet, with Craig McCaw, Franklin Mutual Advisers, and John Kluge among its largest shareholders.