@Home Closes Equity Transaction with Comcast and Cox
Appoints Key Cable Executives to Board of Directors
Mountain View, California -- August 1, 1996 -- The At Home Corporation (@Home),
announced today that it has completed the transaction announced in June to add Comcast
Corporation and Cox Communications, Inc. ("Cox") as equity investors. The two companies
will join Tele-Communications, Inc. (TCI) and Kleiner Perkins Caufield & Byers (KPCB)
as investors in the company.
Following the closing of the transaction, the board unanimously approved the appointments of Brendan Clouston, Brian L. Roberts and David M. Woodrow to the @Home's board of directors. Clouston is Executive Vice President of TCI and President and Chief Executive Officer of TCI Communications, Inc. (TCIC); Roberts is President of Comcast Corporation; and Woodrow is Senior Vice President, Broadband Services for Cox.
As President and CEO of TCIC, Clouston is responsible for TCI's integrated delivery system, including domestic analog and digital video services, satellite operations, telephony investments and operations, and internet services. Clouston holds an undergraduate degree from the University of Toronto and an MBA from the University of Western Ontario. He also serves on the board of directors for C-SPAN, National Cable Television Association (NCTA) and Women in Cable.
Roberts has been the President of Comcast Corporation since 1990. Prior to becoming president, he spent eight years in various management positions with the company. He is a graduate of the Wharton School of Finance at the University of Pennsylvania. He is also a member of the board of Turner Broadcasting Systems, and Viewers Choice. Roberts recently completed his term as 1995-96 Chairman of the NCTA and remains a member of the NCTA's Executive Committee. He is also a Director and Executive Committee member of CableLabs, the cable industry's technology research and development organization.
As Senior Vice President of Broadband Services for Cox, Woodrow is responsible for the development and implementation of advanced broadband services, including wireless and wireline telephony and high speed data. He has held several executive positions in the company since joining in 1984. He holds bachelors and masters degrees in mechanical engineering from Purdue University, and an MBA from the University of Connecticut. He is a former member of the NCTA's Customer Service Task Force, which created the industry's customer service standards and the Telecommunications Subcommittee of CableLabs.
" The cable backgrounds of Clouston, Roberts and Woodrow, as well as their understanding of fast-growth, entrepreneurial companies, will bring significant direction to @Home as we expand the rollout of our services," said Tom Jermoluk, Chairman and CEO of @Home. "The three have a keen knowledge and interest of how the Internet is changing the dynamics of the cable industry."
In addition to Clouston, Roberts and Woodrow, @Home's board of directors includes:
Based in Mountain View, CA, the At Home Corporation was formed in 1995. Investors in the company include Tele-Communications Inc. (TCI), Comcast Corporation, Cox Communications, and Kleiner Perkins Caufield & Byers. The company distributes high-speed interactive services to residences, businesses and schools using the cable industry's hybrid-fiber coaxial distribution architecture.
Editors note: At Home Corporation uses the "@" symbol as part of its service
mark "@Home Network." The company understands that some publishing systems are not
capable of printing or transmitting this symbol. In that event, please refer to
us as At Home Corporation or At Home Corp.
If you have any questions regarding the usage of the At Home Corp. name or the @Home Network service mark, please contact Lynda Lucero at (650) 944-7200.
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