July 23, 2002 — (WEB HOST INDUSTRY REVIEW) — Web hosting provider Digex Incorporated (Digex.com) issued a statement on Monday regarding telecommunications carrier WorldCom?s Sunday bankruptcy filing.
WorldCom, which holds a 94 percent voting stake in Digex, announced on the weekend that it had filed for Chapter 11 protection, marking the largest bankruptcy filing in history.
Digex says it is a separate public company and was not included in WorldCom?s voluntary petitions for reorganization under Chapter 11 of the US bankruptcy code.
However, says Digex, the company is, and will continue to be, funded by WorldCom, along with using WorldCom?s network services in order to operate its business and deliver service to its customers.
