AT&T Ends Bid To Buy @Home Assets

thumbtack writes: "In the neverending story of the @home saga it's being reported (on the Excite Portal which is not going under) that AT&T has broken off their bid to purchase Excite@home assets. They cite a number of significant contractual breaches and other violations by the bankrupt broadband Internet access company. In another related story Comcast and Cox say they have inked separate $160 million dollar deals to continued service while they develop their own networks. AT&T say that as of Tuesday morning they have moved 500,000 of their subscribers over to their network."

Comments

Do the math

[Lumpish Scholar]

AT&T was going to pay $305M for the 75% of Excite@Home they didn't already own.

Comcast and Cox paid $320M for the honor of the lights turned out more or less gracefully.

Sounds good ... except Excite@Home (or the companies it owned money to) probably could have gotten up to $400M from AT&T. These are the same folks who thought Excite@Home was worth $1B, and who thought their fair cut of our $40/month payments was about $50/month. (They're getting about $95/month for the "three months, you're out" plan.)