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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (10367)	6/4/1999 10:57:00 PM
From: Hiram Walker	Respond to of 29970

Benkea, those cable companies have the right to take over ATHM or change the share percentages based on what T and TCOMA do. If COX is over double ATHM's subs,they can clearly take control of ATHM(this is from memory,someone please look up the contract for me). Those exclusive contracts are based on many clauses,that can either be broken or reworked depending on the cable sub numbers. I think COX could have thrown out T as the majority shareholder at the last ATHM quarterly report. I think ATHM is in limbo as to who currently is the majority shareholder,should any of them wish to fight the initial contract. Hiram

To: Benkea who wrote (10367)	6/4/1999 11:14:00 PM
From: ftth	Read Replies (2) \| Respond to of 29970

re:<< Even if AT&T opens its network to other ISP's, ATHM still has EXCLUSIVE ACCESS TO 45 MILLION HOMES as long as AT&T doesn't acquire them in the near future.>> Ah, but EXCLUSIVE is an EVASIVE word! From the SEC filings: First, the exclusivity only applies to services greater than 128 kbps, so dialup ISP's AREN'T excluded. Second, the cable partners are under no affirmative obligation to carry any of ATHM's services. Third, the exclusivity doesn't apply to telephony services or business services. Fourth, the exclusivity agreements expire in 2 years. Also those "homes passed" numbers are incorrect I believe. They definitely don't represent "2-way-data-subscribable" homes passed. dh