AT&T Corp. reportedly may bid for some of the assets of Excite@Home Corp., anticipating that the high-speed Internet service firm could soon file for bankruptcy protection.
The Wall Street Journal reports AT&T's board is mulling a bid between $250 million and $350 million for some assets of the troubled Web company. AT&T, which has a 23% stake in the company, wants some of the platform assets to continue providing high-speed Web access to its cable TV customers.
The Journal cites sources who say Excite@Home is poised to file bankruptcy papers within the next two weeks.
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below