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Chapter 11 For Excite@Home

Posted by ryuzaki0 on 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.

1 of 141 comments (clear)

  1. Mass mailing last night by Tolomak · · Score: 5, Informative

    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