Excite@Home extends pact with AT&T

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Broadband Internet provider Excite@Home, Redwood City, Calif., announced a deal to extend its distribution relationships with its cable partners. Those pacts had been set to expire in 2002. Excite@Home extended its exclusive relationship with AT&T Corp. to 2008, and deals with Comcast Corp. and Cox Communications have been extended till 2006. The Excite@Home portal will be featured on the start page for AT&T's high-speed Internet services. While AT&T's stake in Excite@Home remains 25%, its voting share in the company is rising to 74% from 56%. Comcast and Cox have given up certain voting rights on the board and have been given an option to sell their shares in the company. Executives said AT&T's taking the lead would help Excite@Home move faster in the market. Excite@Home President-CEO George Bell also said the extended relationships with cable companies will help it sign up content partners. Mr. Bell also said Excite@Home canceled plans for a tracking stock for its media assets because it felt the company would be stronger under one unit.

Copyright March 2000, Crain Communications Inc.

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