ExciteAtHome said today it is planning to close its websites and media operations in France, Germany and Spain in July as a result of the weak Internet advertising environment.
The California-based Internet company, which has failed to keep up with the top portals, said it would shut the Excite-branded websites and local operations in France, Germany and Spain as well as sites operated from the European headquarters in London but directed at several other European markets.
In a statement, the company said it will focus its European media activities in Excite UK, its joint venture with British Telecommunications, and Excite Italia, a joint venture with Tiscali SpA.
The company's AtHome Benelux broadband Internet access joint venture with Essent Kabelcom BV and other similar broadband joint ventures will not be impacted.
The closures will also have no effect on the company's portal joint ventures in Japan and Australia.
Chief executive and chairwoman Ms Patti Hart said the company remains optimistic about the growth prospects for the British and Italian ventures, despite the weakened advertising market.
Excite UK, which had revenues of more than euro 10 million ($8.5 million) in 2000, produced a small net profit in the first quarter, she said.
AFP
