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Technology Stocks : INteractive TV is Coming! -- Ignore unavailable to you. Want to Upgrade?

To: art slott who wrote (12)	10/3/1999 10:34:00 AM
From: art slott	Respond to of 22

Make a name for yourself online! Sunday October 3 2:01 AM ET ExciteAtHome, AOL Push Higher Amid Deal Buzz On AT&T Stake Full Coverage Excite@Home By Ian Simpson NEW YORK (Reuters) - Internet service provider America Online Inc. (NYSE:AOL - news) and ExciteAtHome Corp. powered higher Friday, boosted by speculation ExciteAtHome majority stakeholder AT&T Corp. (NYSE:T - news) wanted to split up the high-speed Web access company. The shares' rises came after AT&T, the phone and cable communications company, and ExciteAtHome said late Thursday they were still exploring possible deals tied to AT&T's 58-percent voting interest in ExciteAtHome. Bucking an overall downtrend on Wall Street, ExciteAtHome rose 3-1/16 to 44-1/2 in heavy trade. The shares were among volume leaders on the Nasdaq market. America Online closed up 3-13/16 at 107-7/8 and 2. AT&T fell 1-3/4 to 41-3/4, both in composite New York Stock Exchange trading. Market speculation has centered on AT&T selling out its ownership of ExciteAtHome to America Online, then buying back the AtHome high-speed Internet access part of the company. AT&T then would make a deal to give America Online, the No. 1 Web service provider, more access to its cable TV systems to provide high-speed access. Excite runs an Internet portal, including chat rooms and online shopping. Michael Graham, an analyst at BancBoston Robertson Stephens, said many investors have believed America Online's stock needed to go higher and ExciteAtHome was undervalued. ``When they see it (the shares) started to run, a lot of people think, 'Where there's smoke, there's fire,' and try to buy ahead of that,' he said. Alan Loewenstein, an assistant portfolio manager specializing in technology issues with John Hancock Funds, said a possible deal likely would help both AT&T and America Online. AT&T would get access to America Online's subscribers, while America Online could provide its services through AT&T's cable systems in addition to phone lines. Customers also could get services by phone or cable. ``It would be a plus for everybody,' he said. An America Online-AT&T deal was likely to take place in the first quarter of next year, Graham said. He said AT&T first needed to complete its $58 billion takeover of cable company MediaOne Group Inc. . He added that the appeals process in a legal fight between AT&T and America Online over access to AtHome high-speed cable systems in Portland, Ore., could also delay talks. The process might end up being used as a bargaining chip. The New York Times reported the ExciteAtHome board had canceled a meeting set for Monday to vote on splitting the Excite Web portal from the AtHome cable business. An executive close to ExciteAtHome said the delay was apparently because Cox Communications Inc. (NYSE:COX - news), a big shareholder, threatened to veto the plan. Spokesmen for both companies were not immediately available to comment. Earlier Stories ExciteAtHome Rallies On Speculation Over AOL Deal (September 29) --------------------------------------------------------------------------------