NY Times: ExciteAtHome to Fold on Feb. 28
SAN JOSE, Calif. (AP) — In one of the high-tech world’s most prominent flameouts, high-speed Internet service provider ExciteAtHome will go out of business Feb. 28.
The bankrupt company secured $355 million from many of its remaining cable customers in exchange for keeping its Internet access service running for three more months. After that, ExciteAtHome and its 1,300 employees will cease operations.
The announcement came late Tuesday, after AT&T Corp. withdrew a $307 million offer for ExciteAtHome’s broadband business, saying ExciteAtHome violated agreements by cutting off service to 850,000 AT&T customers. A federal judge had authorized ExciteAtHome to cancel unprofitable deals with its cable partners.
Amazon Purchases Egghead Web Site
My spin:Egghead’s a great brand with great service…Amazon.com’s a good fit