So what? They turn into pumpkins at mid-nite?
Friday November 30, 3:36 pm Eastern Time
Court orders ExciteAtHome to shut broadband service
SAN FRANCISCO, Nov 30 (Reuters) - A federal bankruptcy judge ordered Internet service provider ExciteAtHome Corp. (OTC BB:ATHMQ.OB - news) to shut its high-speed Internet service at midnight Friday, but said he was confident the company could quickly strike a new deal with cable companies to prevent service interruption for its some 4 million subscribers.
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In a closely-watched ruling, Judge Thomas Carlson handed a victory to ExciteAtHome's bondholders, who had contested a $307 million buy-out offer by AT&T Corp, for the once high-flying company.
The judge said Excite's bondholders should be free to negotiate a better offer. ``The debtor (Excite) should not be forced to accept the offer the cable companies find advantageous,'' Carlson said.
Carlson said arguments by the cable companies that millions of Excite users would have their Internet access shut-down were not persuasive, saying he was confident that the cable companies and Excite would come up with new arrangements to continue Internet service without interruption.
Talks between Excite, its creditors and cable companies including AT&T Broadband, Cox Communications Inc. (NYSE:COX - news) and Comcast Corp. (NasdaqNM:CMCSK - news), are currently underway in an effort to strike a new deal before the midnight deadline, attorneys at the bankruptcy court said.
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