Cable operators that signed pricey contracts to extend their Excite@Home
Corp. service through February will have to wait until Tuesday to see if a U.S.
Bankruptcy Court judge will approve them.
Judge Thomas Carlson postponed a hearing Friday to review the $355 million in
contracts until Tuesday to give Excite@Home creditors and bondholders time to
Cablers including Cox Communications Inc., Comcast Cable Communications Inc.,
Mediacom Communications Corp., Midcontinent Communications and Canada's Rogers
Cable Inc. have signed the contracts, which would extend Excite@Home service
through Feb. 28 as the MSOs work to transition customers to their own
After that, Redwood City, Calif.-based Excite@Home plans to shut down.
The $355 million will fund the Excite@Home service through the interim
period, and whatever is left over would be parceled out among the bondholders
AT&T Broadband and Adelphia Communications Corp. chose not to sign the
contract and had their service shut off earlier this week. But both cablers have
since restored service on their own networks for most of their customers.
Charter Communications Inc., meanwhile, has an agreement in principal to
provide a little less than $1 million to stay on the Excite@Home network as it
migrates the remainder of its 145,000 affected customers to its 'Charter
A $307 million bid from AT&T Corp. to buy up Excite@Home's assets was
withdrawn earlier this week because of 'a number of significant breaches and
other violations of the agreement by At Home,' according to an AT&T
No other bid offers have been submitted.