[email protected] extends pact with AT&T

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Broadband Internet provider [email protected], Redwood City, Calif., announced a deal to extend its distribution relationships with its cable partners. Those pacts had been set to expire in 2002. [email protected] extended its exclusive relationship with AT&T Corp. to 2008, and deals with Comcast Corp. and Cox Communications have been extended till 2006. The [email protected] portal will be featured on the start page for AT&T's high-speed Internet services. While AT&T's stake in [email protected] 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 [email protected] move faster in the market. [email protected] President-CEO George Bell also said the extended relationships with cable companies will help it sign up content partners. Mr. Bell also said [email protected] 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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