AT&T said on Tuesday it has terminated its $307 million offer to buy the high-speed Internet access service of ExciteAtHome in bankruptcy court. The move comes on the heels of Excite -- the largest US high-speed Internet group -- striking a deal late on Monday with cable operators that will keep the service running for millions of users.

Under the terms of the deal with Cox, Comcast, MediaCom, Mid Continent, Rogers and Insight Communications, Excite will receive $355 million to keep the service running until February 28, Excite said in a statement.
Earlier, AT&T said it had terminated the offer because of "a number of significant breaches and other violations of the agreement" to buy ExciteAtHome's access service. Bureau Report