/>
X

Excite UK has 30 days to avoid closure

Internet portal seeks a buyer after Excite@Home and BTopenworld decide to sell up
zd-defaultauthor-graeme-wearden.jpg
Written by Graeme Wearden on

Internet portal Excite UK is likely to close at the end of this year unless it can find a buyer, following the slump in online advertising spending.

Excite UK is jointly owned by BTopenworld and Excite@home, which recently filed for bankruptcy. These two shareholders have now decided to sell their stakes. Excite UK has already warned its employees that the company will probably close at the end of December unless a buyer is found within the next 30 days.

Company executives blame the downturn in the technology and dot-com sector for the move. "As one of the UK's early media portals, Excite UK has built an impressive, personalised portal service supported by a dedicated team of employees. It is unfortunate that the global downturn in media advertising has negatively affected Excite UK's financial performance," said Rebecca Miskin, managing director of Excite UK, in a statement.

Excite UK claims to have more than 1.3 million unique users per month. According to the company -- which insists it still has an unspecified amount of cash in the bank -- BTopenworld is keen to sell its stake so it can concentrate on offering Internet services under a single brand, while Excite@Home is focusing on "broadband products and services as it goes through Chapter 11 proceedings".

Excite@Home filed for bankruptcy last month

Have your say instantly, and see what others have said. Click on the TalkBack button and go to the ZDNet news forum.

Let the editors know what you think in the Mailroom. And read other letters.

Related

Are you ready for the worst Economy Class airline seats in the world?
airline-seats.jpg

Are you ready for the worst Economy Class airline seats in the world?

Business
Remote working vs back to the office: Benefits are clear, but there could be trouble ahead for some
A middle aged man in casual attire sat at his computer desk speaking to colleagues via a split-screen video chat application

Remote working vs back to the office: Benefits are clear, but there could be trouble ahead for some

Professional Development
Microsoft Azure-certified roles are well-paid, and you can study for certification for $39
replace-this-image.jpg

Microsoft Azure-certified roles are well-paid, and you can study for certification for $39

Deals