Excite@Home Seeks to Unload Excite11/12/2001 6:15 AM Eastern
The sale would end the rocky merger between narrowband Excite.com and
broadband @Home -- a deal forged in 1999 worth an estimated $7.8 billion.
The company had reportedly been shopping the Excite narrowband portal around
prior to filing for bankruptcy in September.
Excite@Home is asking to sell the Excite narrowband portal assets
-- including certain domain names, trademarks and user traffic -- to
InfoSpace, in turn, has entered an agreement with iWon Inc. Internet portal
iWon.com. If the bid goes through, iWon.com
will operate much of the Excite portal while InfoSpace manages the Excite search
engine and phone directories.
It is not clear whether the Excite name would disappear from Excite@Home
should the sale go through. When asked about that issue, a company spokeswoman
declined to comment.
As with all other asset sales under Chapter 11 bankruptcy, the deal requires
the court's approval, and there is the potential that other bidders may submit
The court will delay a decision on the motion for two or
three weeks to allow other bidders to come forward. In anticipation of that,
Houlihan Lokey Howard & Zukin has been hired to manage the bidding process.