@Home Up on Cable Deals
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@Home Network's stock rose sharply today on news that the Internet via cable provider signed ten distribution agreements during the second quarter with cable operators in the U.S. and abroad.
The company said the agreements could extend its reach to 10 million subscribers by year's end. @Home was up 5 11/16 to 53 in mid-afternoon trading.
The deals come on the heels of last week's news that the intended merger between AT&T and TCI would give AT&T a 40% stake in @Home.
That announcement sent @Home's stock up 31% as investors welcomed the prospect of @Home gaining access to AT&T's 100 million customers.
Foreign cable operators that signed agreements in principle are Dutch companies CasTel and Palet Kabelcom, and ComTel Ltd in the U.K.
As reported on InternetNews.com in April, @Home announced plans to create @Home Netherlands with CasTel and Palet and market a Dutch version of the @Home service in the Netherlands and in Flemish-speaking areas of Belgium.
In partnership with ComTel, @Home plans to launch a British version targeted at 1 million households that are outfitted with the necessary two-way hybrid fiber coaxial cable.
ComTel will be responsible for marketing the cable service to its franchise locations, including the high-tech Thames Valley hub, often referred to as the UK's version of Silicon Valley.
@Home also has partnerships with TCI, Comcast Corporation, Cox Communications, InterMedia Partners, Marcus Cable, Rogers Cablesystems and Shaw Communications.