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@Home Network Approaching Shutdown

Posted by ryuzaki0 on from the so-long-and-thanks-for-all-the-code-red dept.

David Harris writes: "A bankruptcy court ruled today that the @Home network will be shutdown at midnight, unless the company reaches new deals with its cable partners and creditors. The decision is a victory for bondholders, owed $750 million by Excite@Home, whose motion asked the court to shutdown the network on grounds that AT&T's $307 million offer to acquire @Home's broadband network is not adequate and fair value for the network could only be found if a shutdown was forced." Read about it on excite.com, while you can. CNet has a good analysis of where things stand. 45% of the cable modem users in North America! Ouch.

2 of 797 comments (clear)

  1. Goodbye Slashdot by lostindenver · · Score: 1, Redundant

    I love ya Man But NOT over the dial up I will be stuck with.

  2. Shutting down bad move for both sides? by EastCoastSurfer · · Score: 4, Redundant

    Wouldn't shutting down the service be a bad move for both sides? The bond holders would be left with what could be scavenged out of a sale of the company while the cable companies are left with a lot of unhappy customers. I think at minimum a short term deal will be struck so that they can continue to negotiate.