EarthLink and Time Warner Cable Announce Definitive Agreement to Offer EarthLink Broadband Internet Services Over Time Warner Cable Systems
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ATLANTA & NEW YORK--(BUSINESS WIRE)--Nov. 20, 2000--
Agreement Marks Groundbreaking Advance in Providing
Choice to Consumers in Broadband Cable Internet Access
EarthLink (Nasdaq:ELNK), the nation's second largest Internet
services provider with more than 4.6 million subscribers, and Time
Warner Cable, a Time Warner Inc. (NYSE:TWX) company that serves 12.6
million U.S. cable customers, today announced that they have signed a
definitive agreement for EarthLink to offer its broadband Internet
services over Time Warner Cable systems.
Under this agreement, EarthLink's full package of high-speed
Internet access, content, applications and functionality--including
video streaming--will be made available to the approximately 20
million homes passed by Time Warner Cable's broadband-capable cable
networks.
This agreement marks a groundbreaking advance in providing
consumers with choice among multiple high-speed ISPs over Time Warner
Cable's broadband networks, and represents the cable industry's most
far-reaching partnership with an unaffiliated ISP.
EarthLink's Chief Executive Officer Garry Betty said: "This
agreement to offer EarthLink's broadband Internet services over Time
Warner Cable's systems is an important advance in bringing the
benefits of open access to our subscribers and all Internet users.
Building on our alliances with DSL, satellite, fixed wireless, and
other cable operators, this partnership will significantly expand our
ability to provide subscribers with always-on, high-speed Internet
access. We look forward to working with Time Warner Cable, and we hope
to negotiate similar agreements with other cable companies to offer
EarthLink broadband service to consumers nationwide."
Glenn A. Britt, President of Time Warner Cable, said: "This
definitive agreement with EarthLink, one of the world's leading ISPs,
is a win for consumers and a win for the development of broadband
cable Internet access. Our partnership with EarthLink demonstrates our
commitment to offer Time Warner Cable customers multiple choices in
broadband ISPs. The agreement marks the most far-reaching alliance yet
between a cable operator and an unaffiliated ISP. This is a good
business agreement for both Time Warner Cable and EarthLink, and we
believe it will serve as a model for future broadband agreements
between ISPs and cable companies across the country. We are in
productive negotiations with additional ISPs, based on this agreement,
that will speed development of the interactive medium and provide
valuable new benefits to consumers."
Time Warner Cable previously has announced its intention to
restructure its existing contract with its affiliate Road Runner.
EarthLink will begin offering broadband Internet services over Time
Warner Cable's systems after this restructuring and technological
modifications are complete. EarthLink anticipates providing its
broadband Internet services over Time Warner Cable's systems sometime
in the second half of 2001.
Specific terms of this agreement between EarthLink and Time Warner
Cable were not disclosed. The agreement is contingent upon FTC
approval and the closing of the America Online-Time Warner merger.
About EarthLink
EarthLink is the nation's second largest Internet service
provider, bringing the magic of the Internet to more than 4.6 million
subscribers every day. Headquartered in Atlanta, EarthLink provides a
full range of innovative access, hosting and e-commerce solutions to
thousands of communities internationally from more than 5,000 points
of presence. EarthLink is committed to doing an exceptional job of
pleasing its customers, shareholders and the community by following
the company's Core Values and Beliefs. Information about EarthLink and
its services is available by calling 800-395-8425 and through
EarthLink's Web site at www.earthlink.net.
About Time Warner Cable
Time Warner Cable owns and manages the world's most advanced, best
clustered cable television operations, with 90 percent of its 12.6
million customers in systems of 100,000 subscribers or more. It is a
division of Time Warner Entertainment, which is an operating unit of
Time Warner Inc.
Caution Concerning Forward-Looking Statements
This press release includes certain "forward-looking statements"
about EarthLink and Time Warner Inc. within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based
on the current expectations or beliefs of the companies' management
and are naturally subject to uncertainty and changes in circumstances.
Actual results may vary materially from the expectations contained
herein due to changes in economic, business, competitive,
technological, and/or regulatory factors affecting the companies and
factors affecting the proposed combination of Time Warner Inc. and
America Online, Inc. More detailed information about these factors is
set forth in the companies' respective filings with the Securities and
Exchange Commission, including their most recent quarterly report on
Form 10-Q. EarthLink and Time Warner are under no obligation to (and
expressly disclaims any such obligation to) update or alter their
forward-looking statements whether as a result of new information,
future events, or otherwise.
CONTACT: Time Warner Inc.
Edward Adler, 212/484-6630
or
Time Warner Cable
Mike Luftman, 203/328-0613
mike.luftman@twcable.com
or
EarthLink
Dan Greenfield, 703/980-8226 (cell)
greenfie@corp.earthlink.net
or
Ogilvy
Greg Stanko, 202/452-7809
or
Alexander Ogilvy
Kari Walker, 404/881-2310 |
