Internet operating and development company CMGI will shut down interactive content site iCast.com in an apparent attempt to calm analyst and investor concerns about its ability to reach profitability, the company said this week.
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.
