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Road Runner not @Home
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March 20, 1998: 7:13 a.m. ET
Internet firms reportedly fail to agree on merger valuation and control
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NEW YORK (CNNfn) - @Home Corp. and Road Runner, two leading cable-TV-owned Internet services, are believed to have tabled merger talks after failing to agree on valuation, control and other issues.
@Home's backers include Tele-Communications Inc., Cox Communications and Comcast Corp. Road Runner is a unit of Time Warner.
The @Home-Road Runner merger talks were aimed at creating a large service able to take on a vast Internet provider like America Online.
The Wall Street Journal reported Friday that @Home had also been in talks with AT&T for the telephone giant to invest in the high-speed Internet service. But the newspaper reported that AT&T had largely conditioned any investment on a merger between At-Home and Road Runner, which is merging with US West Media Group's MediaOne Express service.
AT&T is said to be still interested in investing in @Home, but wary of having to assume the costs of upgrading cable-TV lines for phone service.
The Journal said that TCI was keen on setting up a publicly traded Internet-phone company owned predominantly by cable and long-distance companies.
Time Warner is the parent company of CNN and CNNfn.
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@Home Corp.
Road Runner
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