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Old 09-29-2001, 08:30 AM   #1
starluck
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Post Excite files for Chapter 11, AT&T buys @home network

Just received the following letter from my cable company. Excite files for bankruptcy protection yesterday.


Quote:
September 29, 2001

To: All Rogers @Home high speed Internet customers

A couple of weeks ago we made a commitment to keep you updated on any
developments regarding Excite @Home in the U.S.

Yesterday Excite @Home announced that it has agreed to sell its high-speed
Internet access assets to AT&T, pending court approval. We are very pleased
with this announcement as Rogers has worked well with AT&T in the past and
continues to do so. As you may know, AT&T is one of the largest
communications companies in the world.

At the same time, Excite filed for bankruptcy protection under Chapter 11 of
the United States Bankruptcy Code. This action allows Excite to remain in
control of its business and provides it with protection from creditors
pending completion of the sale.

Please be assured that our commitment to you remains to provide you with
the best high speed Internet service.
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Old 09-29-2001, 11:50 AM   #2
Carm
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i got that email too

i guess the main questions are

is excite.com going to close its portal/or drop certain features a-la go.com and nbci.com have?

am i going to have to have to find another high speed internet access company?


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Old 09-29-2001, 03:15 PM   #3
batcavenet
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Default cable modems

We have Cox @Home here- what will this do to that arrangment? I am banned for life from them for running a webserver about 2 years ago. I just hope someone else takes over the whole deal so I don't have to deal with Cox - and get off their mosted hated list. They are overly paranoid about everything


JDT
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Old 09-29-2001, 03:34 PM   #4
yevlesh
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Do you know if Excite shareholders get anything?

I had pretty much all the money I saved from running websites and other businesses over the last two years invested in Exodus (went bankrupt on Wendsday) and @Home . This has got to be the most financially devastating week I have had in my life. So much for college plans.


Eugene
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Old 09-29-2001, 04:07 PM   #5
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Excite is currently trading at .15. I'm not sure how long it would retain even that small amount now that its getting rid of its biggest brand names.

Along with the sale of the @home network they sold BlueMountain cards to American Greetings. They've folded MatchLogic completely. The @home network Australian business has been sold to an Australian firm called Optus.

The sales give them operating capital, but I don't really see too much in the way of income opportunities other than advertising now.
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Old 09-29-2001, 04:13 PM   #6
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I know what your talking about yev. My parents invested money in exodus and lost a lot of money
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Old 09-29-2001, 04:56 PM   #7
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This one's been coming for a while.

It'll be interesting to see what they do with Excite. Their web business is dead, and @Home was the only worthwhile thing they had. Apparently, AT&T's gonna look for someone foolish enough to buy the portal.

About Internet access, this according to AT&T:

Quote:
AT&T remains committed to working with Excite@Home’s management and the bankruptcy court to provide uninterrupted high-speed cable Internet service to existing Excite@Home customers, as well as continuing relationships with other cable companies to ensure seamless service to their customers on the @Home network.
Of course, the question then becomes: once Broadband is sold, will the then new company want to keep providing service to everyone.
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Old 09-29-2001, 08:43 PM   #8
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Anyone that has been using the @Home name I'm sure has contingency plans in place. Rogers@Home, for instance, has said in the past that they'd be find should Excite@Home go down... So I don't think anyone really needs to worry about losing access.
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Old 09-29-2001, 08:56 PM   #9
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I sure hope not, it would be a real pain in the behind to have to switch to something else.. which would probably be dsl, I don't know if there are any other cable providers in my area.
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Old 09-30-2001, 12:02 PM   #10
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AT&T owns Rogers in Toronto, or at least the majority of it. In my opinion, no major changes will take place.
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Old 09-30-2001, 09:53 PM   #11
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AT&T doesn't own Rogers... Ted Rogers, plus various minority shareholders, owns Rogers. Foreign ownership of Canadian cable companies is limited to 20%, I believe.
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Old 11-27-2001, 05:06 PM   #12
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If Excite@Home can't come to a settlement this month, @Home's dead.

Last edited by SSacobie; 11-27-2001 at 05:07 PM.
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