At Home to Receive $85 Million From AT
Bloomberg News
At Home Corp., the top provider of Internet service over cable-television lines, said it will get $85 million in cash from AT&T; Corp., its largest investor, to help fund the money-losing company.
New York-based AT&T; is refunding money it previously received from the company, which also is known as Excite@Home. Officials have negotiated a new agreement to run At Home’s Internet network, they said in a statement.
Redwood City, Calif.-based At Home also said cable-TV operators Cox Communications Inc. and Comcast Corp. will be able to start using other providers of high-speed Internet service after Dec. 4.
At Home shares fell 32 cents to a record-low close of $1.90 on Nasdaq. They rose as high as $2.11 in after-hours trading.
