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NorthPoint network goes south

By BroadCasting & Cable Staff -- Broadcasting & Cable, 3/29/2001 6:32:00 AM

NorthPoint Communications said late Wednesday it was to shutting down its DSL network after efforts to find funding failed.

NorthPoint, which has been operating in Chapter 11 bankruptcy, sold most of its asseets to AT&T for $135 million. A coalition of ISPs had reportedly offered to pay the Emeryville, Ca. company and its creditors $2.4 million to keep is high-speed network up for another month. But NorthPoint sought a higher price to keep the network running.

"Absent funding, NorthPoint is taking immediate steps to take down service," the company said in a statement on Wednesday. Loss of the network effectively cuts off more than 100,000 NorthPoint subscribers around the country. - Richard Tedesco

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