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The Almighty Buck

Chapter 11 For Excite@Home 141

Posted by timothy
from the back-to-your-old-tricks-in-chapters-4-5-and-6 dept.
n8twj writes: "According to this story at CNET News, Excite@Home, the leading provider of broadband Internet access, said Friday it will file for Chapter 11 bankruptcy protection and sell its high-speed network to AT&T for $307 million in cash." jgbrown adds: "@Home files for Chapter 11, they are going to sell their assets to AT&T unless they get a higher offer. Here is a Yahoo News link." An Anonymous Coward adds a link to a story at cnnfn.com." Just like Loki and Exodus, this doesn't mean that Excite@Home has dropped off the face of the earth -- it does mean that are seeking legal protection from creditors in an attempt to reorganize.
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Chapter 11 For Excite@Home

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  • by Tolomak (173813) on Saturday September 29, 2001 @09:21AM (#2367685)
    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.

    We will continue to update you on a regular basis so that you remain
    informed.

    Alek Krstajic
    Senior Vice President and General Manager
    Rogers @Home
  • by dieman (4814) on Saturday September 29, 2001 @09:53AM (#2367761) Homepage
    Your just using @home for 'content' Your provider is AT&T Broadband.

    AT&T never did the stupid 'let someone else run your network' trick, they knew it was a sham.
  • Re:Oh thank Go (Score:2, Informative)

    by Katan (104699) <katan.katan@com> on Saturday September 29, 2001 @10:13AM (#2367808) Homepage
    I wouldn't rest easy just yet. I would assume that these resources would now become part of AT&T broadband. AT&T Broadband has been on the block for months now with AOL and Comcast(and others) as suitors.


    Scary to think this, but it could still end up in the hands of AOL Time Warner through its acqusition of the rest of its cable customers.


    Its actually more likely that comcast would be more successful as AOL is under heavy scrutiny for the moment. Not that AOL couldn't do it...the new regime at the FCC is more open to industry consolidation.

  • Well.. (Score:3, Informative)

    by mindstrm (20013) on Saturday September 29, 2001 @10:32AM (#2367841)
    I got a letter from Shaw@home (Calgary, Alberta).

    @home doesn't own the cable network; they own the servers, chiefly the email infrastructure and web space.
    So shaw.ca has it's own mail servers.. and is encouraging users to switch over voluntarily (before they all get their mail cut off when @home goes down the toilet).
    Internet service won't go out. You'll still continue the same way as ever.

  • by Torke (101454) on Saturday September 29, 2001 @10:40AM (#2367859)
    A MESSAGE FROM THE PRESIDENT OF SHAW COMMUNICATIONS INC.

    Dear Shaw@Home customers:

    Shaw is committed to providing its customers with the most reliable and secure high-speed Internet service available. Three years ago, we partnered with the @Home Corporation out of Redwood City, California to provide our customers with a full multimedia high-speed Internet experience. Since then, we have recognized that in order to maintain our highest quality standard, we require full control of our network.

    Shaw has invested over $330 million into our high-speed cable Internet network. Over the last year, customers have been enjoying many services such as domain hosting, high performance network, secure connections, broadband content, and 24 hour customer service all on our own Internet infrastructure. Now, with the recent launch of our new Internet Data Centre, Shaw@Home customers now have a full suite of services, including email and web space available to them; all on Shaw`s very own Internet network.

    Fortunately, our proactive actions came at a time when confidence in the service that the @Home Corporation in the U.S. was providing, was diminishing. But, because of the network construction we have completed, the current financial issues that the @Home Corporation are facing will have no impact to the quality of service we provide our customers. Shaw is confident that, the major shareholders of @Home Corp will maintain all e-mail and web space services without impacting its 3.7 million customers across North America.

    Bottom line, all current customers who have @home.com email addresses and webspace, (managed by @Home Corp. in the U.S.), can currently maintain these existing addresses as well as choose an @shaw.ca. We will be contacting all current Shaw@Home customers, encouraging to transition over to the @shaw.ca email and webspace. To register for your new email and webspace accounts go to http://support.shaw.ca

    Shaw will continue to meet its customers` demand for the Shaw@Home high-speed Internet service. We are committed to providing the fastest, most reliable and easiest-to use service via a content portal to access the best video and audio content available on the web.

    We thank you for your continued support.

    Sincerely,

    Peter Bissonnette
    President, Shaw Communications Inc.
  • by NOC_Monkey (73018) on Saturday September 29, 2001 @12:19PM (#2368126)
    TCI/AT&T Broadband has been buying backbone access from @Home since 1997. AT&T only 'runs' the cable plant. Everything else until you get to a peering point is @Home-managed. Don't believe me? Traceroute to something. See all the "[blah].[blah].home.net"? That's @Home.
  • by sphealey (2855) on Saturday September 29, 2001 @12:59PM (#2368245)
    "AT&T, the company that U.S. government broke into pieces due to antitrust, is gaining back gradually its monopoly position"

    If the old AT&T monopoly exists in any form today, it is in the shape of Southwestern Bell (SBC). AT&T proper bears no resemblence to its 1970 shape.

    With that in mind, AT&T actually had the best strategy of any of the data communication companies: build a full portfolio of services (voice, data, cable, mobile), with as much global component as the hyper-nationalism over telecomm allows (can you say DT?), and offer it to home and business customers in a bundle.

    But as soon as the stock price dropped a bit, Armstrong panic'd and started selling pieces. Now there is no player on the field who even comes close to being able to offer that bundle.

    sPh

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