It seems that Velocix is about to be acquired - I have always been a big fan of their core technology, which rather simplistically I call 'server-side P2P'. As more CDNs are being kicked off 'networks within networks' Velocix' Metro product comes into play, enabling a cascading model for CDN deployments which benefits ISPs.
So, who are the contenders ? Well Level 3 would be a glaring candidate, especially since one of Velocix' founders has been advising them on the rollout of their CDN, but so could any of the solvent CDNs, Limelight or Akamai, who face issues with their networks within ISPs and are both now free from their mutually destructive court battle. Internap is another company that needs to do something with its CDN business.
Watch this space..