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Canoe NYC Office to Shut Its Doors May 23

Canoe Ventures will officially shut the doors to its New York City office on May 23, which is the last date of employment for all New York employees who are not staying with the company.

The advanced-advertising company, backed by the six largest U.S. cable operators, in February announced it would lay off 120 of its 150 employees and vacate the Manhattan office as part of abandoning its interactive TV efforts. Instead, Canoe will refocus on dynamic ad insertion for video-on-demand content, and relocate all operations to Canoe's technical facility in space leased from the Comcast Media Center in Centennial, Colo.

Canoe's New York employees have largely vacated the space already, according to a company representative. Over the next few weeks, remaining staff will clear equipment, sell furniture and take other steps to leave the premises.

Click here to read the full story on Multichannel News.