Move Networks Axes 15% Of Staff
Startup's Investors Include Comcast, Which Uses Media Player for Fancast Xfinity TV Service
By Todd Spangler -- Multichannel News, 2/3/2010 2:16:37 PM
Move Networks this week laid off about 15% of its workforce -- leaving it with 107 employees -- as the company moves away from Web video to focus on delivering IPTV services through cable and telco customers.
The layoffs were reported Tuesday by NewTeeVee.com. Move Networks vice president of marketing Julie Karafiath confirmed the report.
Comcast is among Move Networks' customers and also is an investor in the startup. The MSO is using the Move video player to deliver the Fancast Xfinity TV authenticated video service via Comcast.net and Fancast.com.
Move Networks is restructuring to focus on delivering live, multichannel TV services over the Internet via telcos and MSOs, according to Karafiath. Last year, Move Networks struck a deal with Cable & Wireless' CWI telecommunications unit to provide the infrastructure for an IP-based television service with about 80 linear channels, to be distributed in up to 38 countries over CWI's existing DSL infrastructure.
"As we advance our business to focus on delivering the next generation of television over the Internet, we are naturally making appropriate adjustments to our team, as part of our planned transition. We continue to seek and invest in the right talent and resources to execute on our commitment to bring consumers a real TV experience on any connected device," the company said in a statement.
The company, founded in 2000, rose to prominence by delivering an adaptive-rate streaming video player that is used by ABC, ESPN360.com and The CW. However, Fox Broadcasting recently dropped Move Networks in favor of Brightcove's video-management system.
Other investors in Move Networks include Microsoft, Cisco Systems, Hummer Winblad Venture Partners, Steamboat Ventures and Benchmark Capital.
The American Fork, Utah-based company last summer named Roxanne Austin, formerly president and chief operating officer with DirecTV, to be CEO. She subsequently hired Steven Cox, previously DirecTV's executive vice president of sales and distribution, as executive vice president of strategy and business affairs to work with major media companies to secure IPTV distribution rights.
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