By: Paul Bond 'New York Post' Was One iNEXTV Customer
(The Hollywood Reporter) Another company attempting the television model
over the Internet has shut its doors. This time it was New York-
based iNEXTV Corp., laying off all 65 employees.
The company's Web site, inextv.com, offered film reviews,
horoscopes, travel and food advice, news items, and other content
in a sort of "Entertainment Tonight" fashion, though all through
video-on-demand via a mouse click.
The New York Post recently signed a deal with iNEXTV that
would have provided streaming video entertainment content from
The Hollywood Reporter and Billboard on the
Post's Web site.
INEXTV was a wholly owned subsidiary of visual information
technology company Ampex Corp. Ampex also said Friday it would no
longer make investments in its partially-owned affiliates, AENTV
in Los Angeles and TV1.de in Munich, Germany.
Shares of Ampex, traded on the American Stock Exchange, fell
nearly 50% on the news, to 14 cents.
The company said it would take a second-quarter charge of about
$4.6 million to write down goodwill and other assets related to
the announcement, as well as a charge of $5.5 million to reflect
other costs, such as real estate leases.
Copyright 2001, Editor & Publisher.
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