Move Networks lays off workforce, looks for buyer

Move Networks, a market leader in adaptive bitrate streaming for over-the-top delivery of online video, is seeking a buyer, has laid off much of its staff and says President and CEO Roxanne Austin is stepping down immediately.

Andy Tarczon, a founding partner at  the Diffusion Group said Move's demise isn't much of a surprise. The company has wallowed of late, brought in only $3 million of a hoped--for $20 million in its last funding round and has lost some of its largest customers, including Fox.

Move's adaptive bitrate technology, he said, provided "the best quality video experience online."

For more:
- see this release
- see this TDG commentary

Related articles:
Report: Move Networks CEO could be out, big shakeup looms
FierceOnlineVideo Leaders - Roxanne Austin, CEO Move Networks
Move Networks exec chairman discusses Inuk acquisition

Suggested Articles

Comcast is increasing X1 cloud DVR storage hours 60 to 150, more than doubling the capacity.

Evolution Digital is launching a cloud-based service for operators that have deployed its Android TV-based eSTREAM 4K set-top boxes.

Comcast, Charter and ViacomCBS today announced that they will all take equal ownership of Blockgraph.