Joost names new CEO in strategic shift

Total Telecom Online video service reinvents itself as technology provider for media companies. Joost NV, an online video service launched by the founders of Skype, is retreating from the consumer market and replacing its high-profile chief executive. The New York-based company, which provides television programming over the Web, said it would reinvent itself as a technology provider that will enable media companies to publish Internet video under their own brands. The move marks a dramatic shift by Joost, which was founded in 2006 but failed to live up to its early hype. Internet users have instead flocked to Google Inc.’s YouTube for user-generated content or sites like Hulu LLC, a joint venture between News Corp., General Electric Co.’s NBC Universal and Walt Disney Co. dedicated to TV programs. “In these tough economic... [read full story]                    

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