Ian asked me to pass this on. He is a victim.
Excite at Home Responds to Bankruptcy Court Ruling
REDWOOD CITY, Calif., Nov 30, 2001 /PRNewswire via COMTEX/ -- Excite at Home announced today that the U.S. Bankruptcy Court for the Northern District of California granted the Company's motion to reject the master distribution agreements with its cable company customers because the agreements are financially unfavorable to the company. Once rejected, the cable companies must negotiate new agreements acceptable to the company or risk the possibility that the @Home service may be terminated.
Excite at Home urges @Home subscribers to contact their cable companies for further information about their @Home network services.
This press release contains statements that may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and the Company intends that such forward-looking statements be subject to the safe harbors created by those sections. These forward-looking statements include, among other things, statements relating to the continued provision or termination of the @Home service to its cable company customers, the potential to negotiate different or more favorable terms to the Company with the cable company customers, the termination of the @Home Service to its cable company customers; and the company's ability to provide service without interruption.
Actual results may differ materially due to a number of factors, including, but not limited to, the companies ability to engage in further negotiations with its cable company customers, the results of any such negotiations with its cable company customers, the company's ability to retain key employees; the company's ability to otherwise manage its operations, and other risks and uncertainties described in the Quarterly Report on Form 10-Q for the period ended September 30, 2001 and 8-K reports subsequently filed with the Securities and Exchange Commission.
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Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu