Excite UK faces threat of closure

Excite UK says it may close before the end of the year if a buyer is not found within the next 30 days.

The company, which is 42%-owned by BTopenworld, has confirmed it's looking for a buyer after losing support from BT and its other shareholder Excite@Home.

Last week, Excite@Home sold its US portal and content business for £6.9m.

The US parent company has filed for bankruptcy protection and has been looking for a buyer of its broadband business.

Rebecca Miskin, managing director of Excite UK, said: "It is unfortunate that the global downturn in media advertising has negatively affected Excite UK's financial performance.

"Based on this and the short time period in which to identify a buyer, I have to acknowledge the possibility of closure of Excite UK."

She added that a final decision regarding closure would not be made until late December.