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Short Take: Hyperion buys MediaOne network

Hyperion Communications, a business unit of Adelphia Communications, will buy MediaOne Group's remaining interest in jointly-owned fiber optic networks in the Southeastern United States. Hyperion and MediaOne became partners in 1992 on voice and data services for businesses in Jacksonville, Florida and Richmond, Virginia, but MediaOne now focuses primarily on residential telephony. The deal is expected to close early next year.