Business Services Industry
Judge Approves Comcast Plan for Excite@Home to Continue Internet Service.
Knight Ridder/Tribune Business News, December, 2001
By Akweli Parker, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Dec. 12--A federal bankruptcy judge in California yesterday approved Comcast Corp.'s plan to pay bankrupt Excite@Home $160 million to continue providing service to Comcast's high-speed Internet customers for three months.
U.S. Bankruptcy Judge Thomas Carlson earlier had granted permission to Excite to shut down Dec. 1, but Philadelphia-based Comcast and Atlanta-based Cox Communications Inc. arranged to pay Excite $160 million each to keep it in business until Feb. 28. Some smaller cable companies reached similar deals, bringing the total value of the arrangement to $355 million.
Carlson yesterday approved the payments.
Also yesterday, Comcast unveiled...
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