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Summary:

New media studio ManiaTV has laid off 15 of its 33 employees as the company preps itself for a sale, reports TheDeal.com. As we wrote last Thursday, ManiaTV had given itself two weeks to find a buyer in order to continue its current operations. It’s expected […]

New media studio ManiaTV has laid off 15 of its 33 employees as the company preps itself for a sale, reports TheDeal.com. As we wrote last Thursday, ManiaTV had given itself two weeks to find a buyer in order to continue its current operations. It’s expected to be sold on the cheap, and we’ve already talked to some healthier new media studios that have turned the deal down.

The company, which raised some $26 million in venture funding, has downsized quickly. In October, ManiaTV laid off 20 of its 70 employees, and cut back on original content.

  1. Well, don’t think viewers will really miss them. I mean, ManiaTV? This is the first I’ve ever heard of the company, and they’re closing. I feel bad for everyone losing their jobs. Ovreall, what this shows is that the market for original online video content is tough.

    $26 million is a lot of money. Wonder what the company’s investors are thinking about right now?

    Is this the DEN of 2009?

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  2. [...] has a week or two left in it, at most, according to laid-off employees. At least 15 more were let go this Tuesday as the company rushes to close a sale. This came after investors decided to pull out [...]

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  3. [...] continue. ManiaTV has a week or two left in it, at most, according to laid-off employees. At least 15 more were let go this Tuesday as the company rushes to close a sale. This came after investors decided to pull out [...]

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  4. [...] least 15 employees were laid off last week, leaving only the management team. ManiaTV had previously cut 20 positions [...]

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