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To: Robert Scott who wrote (4441)	1/19/1999 6:54:00 AM
From: FR1	Respond to of 29970

Yeah, also note that according to one report: dailynews.yahoo.com Under the terms of the deal, Excite shareholders would receive about 30 percent of AtHome in a stock transaction involving the issuing of new shares, the Times reported. I don't know if that is accurate, but ATHM = 102 and XCIT = 67 right now. Looks like a bad deal for XCIT because you would get more shares of ATHM by selling your XCIT shares and buying ATHM. I am sure there must be something else in the works.

To: Robert Scott who wrote (4441)	1/19/1999 7:09:00 AM
From: Doug (Htfd,CT)	Read Replies (1) \| Respond to of 29970

ATHM v. AOL will be like CBS v. NBC v. ABC v. CNN I suspect we'll see rapid consolidation of Net companies, and Net companies using their highly valued stock to buy more traditional companies with more traditional franchises and earnings streams, much as AOL bought Netscape. There is room for asssembling more such "Net-networks." Disney appears to be building a "Family Network" with its investment in Infoseek (SEEK). LCOS is likely to be the next target, and may experience "irrational exuberance" on open Tuesday. I expect to see the IP heavy lifter telcos like LVLT and QWST involved either as acquirers or equal venturers in such consolidated networks. I also think that the new global telecos like TGO and ISP's like Earthlink (with its investment from Sprint) will also be potential players or targets. And the recent announcement about the joint venture for an unwired "global nerve system" between Microsoft and Qualcom suggests movement toward a global wireless IP system for business and professional users, which will involve satellite resources like Gilat (GILTF) and whose interface will be the hand-held combo Palm Pilot and PCS phone called "PDQ" from Qualcom, running Windows CE and others. I think we'll soon see the new Net companies going beyond expanding past their traditional competitors (as ESchwab has passed ML in market cap and AMZN passed BGP et al) being the acquirers of established old-paradigm companies in an expanding variety of fields: communications, entertainment, finance and insurance, gaming and many others, because they have access to less-costly capital, can scale rapidly and cheaply, and have the brightest lights on staff running on stock options and Starbucks coffee. Those acquisitions will not be good news for legacy staff and organizations, though ... a topic for another letter. Doug (Long ATHM, SEEK, QCOM, LVLT, QWST, TGO, GILTF, ELNK, SCH, VRSN, et al) Net Nuggets* Thoughts on ECommerce: at dougsimpson.com Net Nuggets EMail Free Forum: http://net_nuggets@egroups.com