Excite@Home: Bankrupt, AT&T: Insane

from the weird-deals dept

Okay, so we knew that Excite@Home was going to declare bankruptcy, and it was pretty much assured that AT&T was going to jump in buy up the cable modem business assets. None of that was a surprise. But, paying $307 million for just some of the assets of a company that has a valuation of around $60 million? That's a surprise. Of course, this is probably to sweeten the deal with Comcast to buy all of AT&T Broadband's assets. If they're getting $40 billion for AT&T Broadband, I guess $300 million doesn't seem like too much. Anyway, in a mostly unrelated story, I just discovered that Techdirt was a "cool site of the day" at Webshots today (though, they don't actually mention us by name, and just have a link to "News" that goes to Techdirt). Webshots is owned by Excite, so Techdirt might be one of their last ever cool sites of the day...
Hide this

Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.

Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.

While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.

–The Techdirt Team


Reader Comments

Subscribe: RSS

View by: Time | Thread


  1. identicon
    clous, 28 Sep 2001 @ 9:54pm

    LOUSY english, unfinished sentences, garble no one

    Clous:
    your comment above is filled with lousy english, unfinishe sentences, and worse of all no one can understand what in 'carnation you are saying. ship up! And obviously its time to stop working and go to bed. you are burned, dude.
    -Clous

    link to this | view in thread ]

  2. identicon
    elementary my dear watson, 28 Sep 2001 @ 11:17pm

    Re: LOUSY english, unfinished sentences, garble no

    I don't know what kind of drugs you're on but your posting was harder to read than Mike's post. You're the one that's burned.

    link to this | view in thread ]

  3. identicon
    todd, 29 Sep 2001 @ 4:40pm

    61 vs 300

    Mike, look at their balance sheet -- tons of debt. To buy the company you have to buy the equity (60M), but that often requires the approval of the bondholders if not the assumption of all debt. My very quick math shows enough cash and st assets to pay down current liabilities and some of the lt debt, leaving about $240M in debt oustanding.

    link to this | view in thread ]


Follow Techdirt
Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Discord

The latest chatter on the Techdirt Insider Discord channel...

Loading...
Recent Stories

This site, like most other sites on the web, uses cookies. For more information, see our privacy policy. Got it
Close

Email This

This feature is only available to registered users. Register or sign in to use it.