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Thursday March 18, 9:02 am Eastern Time
Company Press Release
SOURCE: @Home Network
@Home Network and Videon CableSystems, Inc. Announce Agreement for Delivering High-Speed Cable Internet Services in Canada
Four of the Top Five Canadian Cable Operators Now Affiliated With @HomeNetwork
REDWOOD CITY, Calif., March 18 /PRNewswire/ -- Expanding its presence in Canada, @Home Network (Nasdaq: ATHM - news), the leading provider of high-speed Internet services via cable infrastructure, and Videon CableSystems, Inc., Canada's fifth largest cable operator, today announced an agreement to deliver high-speed cable Internet services in key Canadian markets, including Edmonton and Winnipeg. @Home Network will have access to more than 500,000 homes passed for high-speed cable Internet services. The service will be named Videon@Home and is planned to begin deployment in 1999.
''Videon@Home will bring speed, convenience, and exciting local and national content to our cable customers,'' said Vaughn Tozer, Videon's President of Canadian Cable Operations. ''Cable Internet services allow users to be more productive with their online time. @Home's integrated service approach, combined with our local broadband network will deliver rich Internet experiences to all members of the family, whether its keeping in touch with friends and family across Canada or the world, getting help with homework, keeping up with the latest news, weather and sports, finding recipes or purchasing gifts online.''
@Home Network, Rogers CableSystems and Shaw Communications created a joint venture called @Home Canada in 1997 to distribute the @Home service to cable companies in Canada. Cogeco Cable Inc., Canada's fourth largest cable company, joined the consortium in 1998 and became an equity partner. Rogers, Shaw and Cogeco's cable systems together represent nearly 6 million households passed by cable.
Recognizing Canada's distinct marketplace, @Home Canada will customize the Videon@Home user experience to reflect and promote Canada's unique and cultural and geographic characteristics. In addition to developing new content for the service, @Home Canada has formed partnerships with several key Canadian multimedia providers to offer third party content along with existing @Home content.
''Cable is clearly the vehicle of choice for delivering a full range of interactive services to the home,'' said Dean A. Gilbert senior vice president and general manager, @Home Network. ''Through the power of cable, Videon@Home will help transform the Internet into a viable mass medium that will be as readily available and indispensable to the home as the telephone and television.''
Videon is rebuilding its cable television systems to state-of-art hybrid-fiber coaxial architecture that will support @Home Networks national broadband backbone. Videon will utilize @Home's distributed network infrastructure and unique broadband national content. The alliance will position Videon customers at the forefront of a new generation of high-speed communications.
Existing Internet customers now served by Videon's WAVE service in Manitoba and its Power Surfer service in Alberta are scheduled to begin conversion to the @Home service before the end of the third quarter of 1999.
@Home Network is more than a simple connection to the Internet. @Home has developed a distributed, intelligent network that utilizes sophisticated caching and replication technologies to create a high-performance ''parallel'' Internet. With this network, @Home will be able to cost-effectively scale its network capacity to support ubiquitous broadband services in both metropolitan and rural markets throughout North America.
Videon CableSystems, Inc.
Videon CableSystems Inc. is a wholly owned subsidiary of Moffat Communications Limited. Moffat Communications Limited has substantial interests in cable television systems in Canada and the United States, namely, Videon CableSystems Inc. which owns and operates cable television systems in Winnipeg, and 22 regional communities in Manitoba and Northwestern Ontario; Videon CableSystems Alberta Inc., which owns and operates systems in Edmonton and 24 regional communities in Alberta; Kingwood Cablevision, Inc. near Houston, Texas; Palm Coast Cablevision, Ltd. in Palm Coast, Florida, and FSN Cable, Inc. near Tampa, Florida. The Company also owns 69.7% of WTN a nationally distributed specialty television network and CKY-TV, the CTV Television Network affiliate in Manitoba.
About @Home Network
Based in Redwood City, California, @Home Network distributes high-speed, openly accessible Internet and Web services to residences and businesses using its own network architecture and a variety of transport options including the cable industry's hybrid-fiber coaxial infrastructure. The cable connection provides users significant increases in speed over conventional Internet services. Leveraging the ''always on'' attributes of cable, @Home allows for unique multimedia applications that go beyond current Web experiences. Individuals seeking additional information about availability and subscription can refer to the @Home Network Web site (www.home.net). Since its founding in 1995, @Home Network bas reached affiliate agreements with nineteen leading cable companies-worldwide, including AT&T Broadband and Internet services, Bresnan Communications Company, Cablevision Systems Corp., CasTel, Century Communications, Charter Communications, Cogeco Cable Inc., Comcast Corporation, Cox Communications, Garden State Cable, Insight Communications, InterMedia Partners, Jones Intercable, Lenfest Communications, Midcontinent Cable Co., Palet Kabelcom, Rogers Cablesystems Limited, Shaw Communications and Videon CableSystems, Inc.
NOTE: The @ logo, @Home and @Home Network are trademarks of At Home Corporation and may be registered in certain jurisdictions. All other brands and product names are trademarks of their respective owners.
This press release contains forward-looking information within the meaning of Section 27A of the securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbors created by those sections. These forward-looking statements include statements related to: Videon Cablesystems' ability to successfully upgrade its cable plant; @Home Network's and Videon CableSystems ability to deploy the Videon @Home service on schedule in the relevant markets; the extent to which the service will become indispensable to customers and provide them with a new generation of high speed communications; and @Home Network's ability to scale its network to support ubiquitous broadband deployments throughout North America. Actual results may differ materially due to a number of risks. In particular, the successful and timely introduction of the service, its value to customers, and scaling of the @Home network is subject to: numerous technological, operational and financial challenges; potential competition from other broadband Internet providers; and the degree of customer acceptance of the service in the relevant markets. The matters discussed in this press release also involve risks and uncertainties described from time to time in @Home Network's filings with the Securities and Exchange Commission. In particular, see the risk factors described in @Home Network's Form 10-K for the year ended December 31, 1998. @Home Network assumes no obligation to update the forward-looking information contained in this press release.
SOURCE: @Home Network |