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At Home sells assets, goes bust.(At Home Corp.)(Brief Article)(Statistical Data Included)
Byline: Emily Burg in New York
At Home Corp. has finally barred the door.
The Redwood City, Calif.-based Internet broadband and Web portal company filed for Chapter 11 bankruptcy protection late Sept. 28 immediately after signing an agreement to sell its broadband assets and related services to AT&T Corp. for $307 million in cash.
AT&T owns 23% of At Home and has a 74% voting interest in the company, which does business as Excite@Home.
"This filing is a tool to protect the value of the broadband business for the benefit of the company's financial stakeholders and will help reassure our customers that service will continue uninterrupted …
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