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Byline: Leon Lazaroff
Rhythms NetConnections, an Englewood, Colo.-based provider of high-speed Internet access, filed for Chapter 11 bankruptcy protection Aug. 2, setting up a likely liquidation of the company's assets.
The long-expected announcement lends weight to a growing consensus within the telecommunications sector that companies cannot become profitable if they focus on a single service. In this case, Rhythms attempted to sell digital subscriber lines, or DSL, to Internet service providers who would then sell high-speed Internet access to end users.
Besides Rhythms, the two best-known companies to attempt the DSL-only model were NorthPoint …