By: Staff Reports November's Record: More Than One Site Every Day
(The Hollywood Reporter) Another day, another dot-com bites the dust.
That's true for this month, at least, according to a study
released last week by San Francisco-based research firm
WebMergers.com.
The report says that more than one Internet company has gone
belly up for each day this month and that 130 have shut down so
far this year. And as comprehensive as the WebMergers.com report
is, it's not complete. Perhaps no list is, considering how many
under-the-radar Internet companies surface and submerge every
day.
The WebMergers list includes 17 online entertainment companies
that have ceased operations, are liquidating their assets,
seeking a buyer, or attempting to reorganize through bankruptcy
or other means. But by that same criteria, research done by
The Hollywood Reporter indicates the list should be at
least twice that long - especially if it were to include Web
companies that don't offer entertainment themselves but were
operated by an entertainment concern, such as Disney's
ToySmart.com.
Thursday's casualties included the 21 of 30 employees laid off at
Audiohighway.com, an online media site, and the 40 staffers (20%
of its work force) let go at financial news site TheStreet.com,
which also ceased its U.K. operations and ended its joint venture
with The New York Times.
Copyright 2000, Editor & Publisher.
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