PRESSPOINT TO GO OUT OF BUSINESS

By: Staff Reports

Another Newspaper Vendor Loses Funding





PressPoint, the print-on-demand newspaper delivery service, is the latest dot-com vendor to close its doors. Employees of the New York-based company were told last week that funding had dried up, according to an internal source.



Phones calls to PressPoint officials Tuesday afternoon were not returned.



The company has more than 50 newspapers that can use its digital distribution channels to provide print-on-demand editions around the globe.



The company is reportedly informing its clients before making an official announcement. The source adds that funding is still being sought.



PressPoint will reportedly continue to publish international editions at the Sydney Olympics – what had been a major showcase for the company’s technology.



The news follows Flywheel Media’s abrupt closure over the weekend. That company provided classifieds, Web-building, and syndication solutions to newspaper sites.



PressPoint has been around since 1997, founded by former key executives

from The New York Times Co. Its chairman is Lance Primis, former

president and COO of NYT, and president and CEO is James Cutie, former

president and CEO of the NYT Information Services Group.





Related stories:

PRESSPOINT MAKES OLYMPIC BID (08/21/00)



PRESSPOINT ADDS EDITIONS, PRINT SITE (03/13/00)



BOOKSELLER TO OFFER ‘INSTANT NEWSPAPERS’ (12/07/99)





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