Joost cuts off its Internet TV arm
FROM VARIETY: Offices to close in the U.K. and Netherlands
By Steve Clarke of Variety -- Video Business, 7/1/2009
JULY 1 | FROM VARIETY: Internet TV service Joost has given up on its attempt to compete with YouTube and the increasingly successful Hulu, backed by Fox, Disney and NBC."It's been increasingly challenging to operate as an independent, ad-supported online video platform," said Mike Volpi, who is standing down as CEO but will remain as chairman.
Joost's offices in the U.K. and the Netherlands are to close and an unspecified number of its 100 staffers will be pinkslipped. Joost once employed 200 people worldwide.
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