Excite@Home’s Pogo buy scrapped

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Broadband Internet provider Excite@Home said Jan. 9 it ended its agreement to acquire Pogo.com, an online gaming site. The company says some conditions in the transaction were not met so Excite@Home decided not to complete the deal. However, Pogo.com will continue providing its roster of games to Excite users and Excite@Home will maintain its 10 percent equity stake in Pogo.com. The abandonment of the Pogo deal comes just a month after Excite@Home exited a deal with UPC and UnitedGlobalCom ("United Group") to create Excite Chello, a broadband deal for distribution and content in Europe. United Group had asked Excite@Home to consider certain alternatives to its agreement, given market conditions. Excite@Home instead decided to kill the plan.

Separately, Excite@Home said its worldwide subscriber base jumped just over 27 percent in the fourth quarter to 2.95 million. The company said it added 637,000 subscribers during the quarter, meeting what it said is its target for worldwide growth between 25 percent and 30 percent.

Copyright January 2001, Crain Communications Inc.

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