Briefs

By: Staff Jul 9 2001 - 12:00am

Philadelphia – Comcast Corp. trimmed its stake in data-over-cable service provider Excite@Home Corp. by more than 4 million shares, the company told the Securities and Exchange Commission last week.

As of the July 3 securities filing, Comcast holds 27.2 million shares of Excite@Home stock, or 8.4 percent of shares outstanding. That's down from the 31.3 million shares, or 9.8 percent of the total, that Comcast held in May.

The MSO's Comcast PC Investments and Comcast Online Communications Inc. subsidiaries sold 4.1 million shares of Excite@Home stock between June 22 and July 2 in a series of transactions at $2.01 to $2.17 per share, the company said. Excite@Home closed at $2.08 per share on July 3, up 3 cents.

Coudersport, Pa.– Adelphia Communications Corp. filed a shelf registration with the Securities and Exchange Commission to offer up to $5 billion in debt, equity and warrants from time to time.

Adelphia said proceeds would be used for general corporate purposes, including capital expenditures, acquisitions, reducing its debt and investments.

Greenwood Village, Colo.– Crown Media Holdings Inc. plans to reconvene its annual meeting on July 17 to let shareholders vote on the proposed purchase of about 700 film titles and related property and rights from Hallmark Entertainment Distribution LLC.

The original vote, scheduled for June 7, was postponed because of a stockholder lawsuit regarding the transaction that was filed June 6. That suit has since been settled, as Crown Media and Hallmark agreed to reduce the amount of Crown Media stock in the deal by 425,000 shares.

Littleton, Colo.– EchoStar Communications Corp. said it redeemed all outstanding shares of its 6.75 percent series-C Cumulative Convertible Preferred Stock on July 6.

The company paid a redemption price of $51.93 per share for the preferred stock, plus accumulated and unpaid dividends. Investors had the option to convert each share of preferred stock into 16 shares of EchoStar class-A common stock at any time prior to the close of business on July 3.

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