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AT&T Takes Reins of Cable Internet Firm.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, March, 2000 by May, Jeff
Mar. 30--In a bloodless coup d'etat among cable partners, AT&T is taking control of Excite@Home, the leading provider of high-speed Internet access over cable networks.
The nation's biggest telecommunications company already held a 56 percent voting stake in Excite@Home, but will now up it to 74 percent under an agreement with Cox and Comcast, the other main partners in a cable consortium that controls Excite@Home. AT&T also will fill a majority of positions on Excite@Home's board, whose decision-making had been stymied by strategic disagreements among the cable partners.
"We now have a much closer relationship with Excite@Home," AT&T Chairman C. Michael Armstrong said in a conference call yesterday with reporters.
For much of the past year,...
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