CMGI Cans iCast
Chief executive David Wetherell said, "It is not optimal for CMGI to continue funding extended time lines to reach market leadership and profitability."
Monday's announcement came about a month after heavy debt forced rich and streaming media content site Pulse.com to cease its operations.
ICast will follow through with its Webcasts of "David Blaine: Frozen in Time" on Nov. 27-29.
"Following the Webcast, iCast will no longer be a functioning Web site," a posted message told users.