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News > Technology
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Excite end could be near
graphic November 27, 2001: 6:06 p.m. ET

Troubled Internet service provider struggles to renew cable company deals.
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  • ExciteAtHome's 3Q loss widens - Nov. 16, 2001
  • Excite@Home to file for Chapter 11 - Sep. 28, 2001
  • Excite's creditors attempt to get better price - Oct. 22, 2001
  • Excite@Home cuts 500 jobs - Sep. 25, 2001
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  • Excite@Home
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    NEW YORK (CNN/Money) - ExciteAtHome said Tuesday that it could stop providing service to its more than 4 million customers by Friday if it cannot renegotiate agreements with the cable companies that carry its service.

    Some of ExciteAtHome's cable partners have informed their users that service could cease after Nov. 30, Excite spokeswoman Stephanie Xavier said. Excite, with 4.1 million U.S. customers, counts on some of the nation's biggest cable companies as distribution partners, Comcast Corp., Cox Communications and AT&T among them.

    Redwood City, Calif.-based Excite (ATHMQ: Research, Estimates), will appear before a U.S. Bankruptcy Court in San Francisco Friday where a judge will decide whether to block the service if discussions fail, Xavier said.

    Excite, the nation's No. 5 ISP, has also been delisted from the Nasdaq.

    In August, Excite announced that it would not repay a $50 million loan to Promethean Investment Group LLC. The cash crunch caused Excite in September to cut 500 jobs and pared down operations. The troubled ISP then filed later that month for Chapter 11 bankruptcy protection.

    New York-based AT&T Corp., which holds a 23 percent stake in Excite and has a 74 percent voting stake, agreed to buy Excite's broadband assets for $370 million.

    Excite motion for AT&T (T: down $0.28 to $16.83, Research, Estimates)  to buy its broadband assets will be heard in court on Dec. 5, Xavier added.

    In November, ExciteAtHome agreed to sell certain assets related to its portal Excite.com to Internet and wireless services provider InfoSpace Inc. for $10 million. graphic

      RELATED STORIES

    Excite@Home to file for Chapter 11 - Sep. 28, 2001

    Excite's creditors attempt to get better price - Oct. 22, 2001

    Excite@Home cuts 500 jobs - Sep. 25, 2001

      RELATED LINKS

    Excite@Home





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    Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

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