American Fork, Utah — Move Networks,
a provider of Internet streaming
media and Internet-protocol TV solutions
whose backers include Comcast,
has laid off more than half of its employees
as the company evaluates “strategic
alternatives,” including a possible sale.
The company also announced that
Roxanne Austin will resign as president
and CEO following “a brief transition
period.” Marcus Liassides, executive
vice president of sales and business development,
will be promoted to president
and will oversee the company’s
day-to-day operations. Austin, who
previously was DirecTV’s president
and chief operating officer, joined Move
Networks in July 2009.
Move Networks, incorporated in 2006,
rose to prominence with an adaptiverate
streaming Internet video player
that had been used by ABC.com, Fox,
The CW and other media sites. In addition,
Comcast has used the Move video
player to deliver the beta version of
the Fancast Xfinity TV authenticated
video service, although the MSO has
said it will soon migrate to an alternate
rate streaming features,
In February, Move Networks cut
about 15% of its workforce, leaving it
with 107 employees, as part of what
the company described as a move
away from Web video to focus on
IPTV. The most recent layoffs eliminated
more than half the remaining
American Fork, Utah-based Move
has raised about $70 million from investors
including Comcast, Cisco Systems,
Microsoft, Televisa, Steamboat
Ventures, Hummer Winblad Venture
Partners and Benchmark Capital.
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