CNET put together a good analysis of why Excite@Home is falling apart. It’s the largest high-speed Internet provider in the United States, and it’s speeding like a locomotive towards bankruptcy. Lots of things were done wrong to put them in this position, but there’s no way to know how the company would have fared even if it had done everything right.

An interesting question: if @Home goes into bankruptcy, what happens to all the cable Internet subscribers? Does their service get turned off, like Northpoint and Rhythms did to DSL subscribers? Or does AT&T come in and take over the lines? If you’re an @Home subscriber, you might want to have an extra modem lying around, just in case.

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