Troubled New York Video aggregator and IPTV operator, Roo Media, has closed the business services and P2P operations it bought from Wurld Media a year ago for $10 million. The closure comes as new boss and investor Isaza Tuzman has brought over three of his former Jump TV buddies to help focus the company on international opportunities. Tuzman has laid off 43 staff and is now crying poor with his CDN partners as he seeks to get Roo's streaming costs down. He is also moving Roo from its high cost Manhattan accommodation to an undisclosed location out of town.
News Corp. is a major client and 10 percent investor. Four non-executive directors left Roo in December amid allegations of improper payments and Wurld Media has also been mired in controversy with charges of larceny and a back pay action by staff.
For more:
- Messy Times for Roo Article
[1]- Roo announces more restructuring Release [2]
Links:
[1] http://newteevee.com/2007/12/19/messy-times-at-roo-group/
[2] http://finance.paidcontent.org/paidcontent?GUID=4314855&Page=MediaViewer&Ticker=RGRP