Friday August 31 10:00 AM EDT
Cable partners to drop Excite@Home By Corey Grice CNET News.com
Excite@Home, which is struggling financially, said Friday that cable partners Comcast and Cox Communications have decided to end their long-term relationships with the high-speed Internet service next summer.
Under their existing pact, Cox and Comcast, two of the nation’s largest cable TV companies, will exercise their rights to dissolve the partnership June 4, 2002. Excite@Home continues to negotiate with the cable operators, a spokeswoman said. Barring any new agreements or changes between now and then, it is unclear what would happen in June to @Home broadband Net access customers served by Cox and Comcast.
In related news, at a meeting Thursday the Excite@Home board of directors authorized the company to hire an investment banking firm to serve as a financial advisor to oversee potential restructuring scenarios. No particular bank was specified.