Regular readers of this blog will know that I've always been down on the IPTV/walled garden model, and particularly so for start ups without an existing customer base. Akimbo and DAVE TV had to change their business model away from this and, in the UK, Home Choice had to sell out to Tiscali.
However, one company that had potential was ITVN - largely because they managed to negotiate rights for the US with both Setanta for UK sports and Gol TV for South American sports.
Now, as any of you that have been expats in the US will know, getting access to home sports coverage is a nightmare - Irish bars are usually the only option.
However, ITVN have run into financing difficulties and their shares are languishing - they even admitted publicly on their forum recently that they run a business on very tight margins. The walled garden model demands deep, deep pockets, but I truly hope that ITVN make it through their current turbulence, if only so that I can buy their product the next time I'm in the US!