It looks as if this might be one of the last nails in Excite's coffin. The stock tanked [quicken.excite.com] (even more) after this debt news went public -off another 22% (now at 39 cents).
5:12 pm on Aug 28, 2001 (gmt 0)
The company's main liability lies with the Excite portion of the business, which is highly dependent on advertising and e-commerce for the bulk of its revenue. Excite@Home's media revenue dropped 62 percent in the second quarter. That part of the business is effectively sucking the lifeblood out of what should be a thriving broadband business.