4 Cable TV Firms Invest in WorldGate

WorldGate Communications Inc. said four large cable television companies will invest a total of $24.5 million in the company and offer its high-speed Internet service to their customers.

Adelphia Communications Corp., Comcast Corp. and Cox Communications Inc. signed multiyear agreements to sell the WorldGate service, which uses cable lines to connect standard televisions to the Web. Charter Communications Inc. extended a previous accord.

The four companies have a total of 26.1 million customers, more than a third of all U.S. cable subscribers. WorldGate had 19,000 subscribers as of March 31, who pay about $10 a month to connect to the Web using a standard TV with a cable set-top box and a wireless keyboard.

On Nasdaq, WorldGate shares fell $1.06 to close at $28.38, Adelphia fell 38 cents to close at $37.75, Charter dropped 25 cents to $14.12, and Comcast declined 38 cents to $33.81. Cox rose $1.69 to $43 on the NYSE.