The broadband company, Excite@Home, is filing for bankruptcy protection and selling almost all of its broadband Internet access business to AT&T for US$307 million.
Excite@Home said the Chapter 11 filing will enable the company to continue its high-speed Internet access business during the sale, according to a CNN report . The sale, which requires the approval of the bankruptcy court, could change if there are other, higher bids.
Last week Excite@Home laid off 500 workers in an effort to save cash. In June 2000, the company joined other Internet portal firms in adding free Internet access for Mac users through the 1stUp.com access network. Though 1stUp.com announced plans to close its doors last December, Excite@Home's Web site still touted Mac compatibility for Mac OS 8.5 and higher.
No word on what the impending changes mean for Mac users. The broadband Internet service supposedly has over three million users. (Thanks to MacCentral reader, Luke Kittrell, for the heads-up on this news item.)
This story, "Excite@Home files for bankruptcy" was originally published by PCWorld.