Excite@Home to Close Three European Media Operations
Excite@Home plans to close its Web sites and local operations in France, Germany and Spain and focus its European media business on its United Kingdom and Italian investments, the company said yesterday.The company also plans to shut down its Web sites operated from London but directed at other European markets.
The move is in keeping with the company's plan to close unprofitable operations and concentrate on its broadband businesses.
The closings will not affect Excite@Home's portal joint venture operations in the UK and Italy. It also will not affect its jointly operated Japanese and Australian portals.
The company did not disclose how many employees will lose their jobs.
"We have every intention of ensuring that our Excite businesses in the UK and Italy continue to receive support consistent with their market positions and secure financial status," said Evan Rudowski, Excite@Home's managing director for Excite Europe.
The company said that despite the downturn in the Internet advertising market in Europe, its Excite UK and Excite Italia operations have positive growth prospects.
