Excite@Home Extends Deadlines, Names COO6/05/2001 5:20 AM Eastern
Excite@Home Corp. said Tuesday morning that it has extended a deadline for
Comcast Corp. and Cox Communications Inc. to decide whether to terminate their
exclusive contracts with the cable-modem-service provider.
Originally, Comcast and Cox were to make that decision by Monday. However, Excite@Home -- which is talking with the MSOs
about restructuring their commercial relationship with the cable
Internet-service provider -- has extended that date until June 18.
Under terms of an agreement letter dated March 28, 2000, Cox and/or Comcast
agreed to give Excite@Home six months' notice of any intent to terminate their
exclusivity contracts or their entire business relationships with Excite@Home
June 4 and Dec. 4.
On May 28, Multichannel News reported that AT&T Corp. would issue
75 million shares to Cox and 80 million to Comcast as part of a revised
agreement tied to the MSO's stakes in Excite@Home. At the time, industry
observers said tax benefits were AT&T's prime motivator in the move.
In a separate move, Excite@Home named Matt Jones to the newly created
position of chief operating officer.
Jones, 41, most recently served as president and CEO of Lipstream Networks
Inc., a voice-over-the-Internet technology firm that had voice-chat technology
deals in place with Excite@Home and Road Runner. Before that, Jones was Sprint
Corp.'s long-distance-division chief, and he launched his career at
'I worked closely with Matt at Sprint, and I am confident in his ability to
deliver results,' Excite@Home chairman and CEO Patti Hart in a press release.
Hart was appointed chief in April.
In his new role at Excite@Home, Jones will oversee the company's media,
consumer broadband and commercial divisions, including marketing, corporate
communications and customer service.
Excite@Home also announced the resignations of Byron Smith, executive vice
president of Excite Network, and Mark O'Leary, executive vice president,
broadband services. Smith and O'Leary will leave the company next month 'to
pursue other opportunities,' the company said.
In the interim, Jones will assume responsibility for the company's @Home,
@Work, media and Matchlogic divisions.