Monday, March 23, 2009

D-I-V-O-R-C-E

So the shotgun marriage that enabled David McCourt to end his disasterous reign as Interim CEO and Chairman of internet TV pioneer, Narrowstep, has come to an unseemly end. Another dire chapter in his tenure. The fact that the company has ostensibly been allowed to be run by its would-be acquirer for over eighteen months also shows the continuing issues in the American financial  regulatory regime. 

In the scope of things, NRWS is an irrelevance, but none of the shareholders of the company were consulted at any stage concerning this 'merger', a fact that should have the SEC passing some sensible regulations apart from the riddiculous Sarbanes-Oxley.

The news has seen Onstream's stock rise, but all microcap companies lacking funding in the current market environment are doomed, in my view.

2 comments:

Anonymous said...

Classical TV however (www.classicaltv.com), the latest Narrowstep 'Channel' is a triumph of success in a difficult market....well, that said, it will be interesting to see how it's commercialised, but the site, content and player are all quite wonderful.
Monty

L S P said...

Ahh RIP Narrowstep, you gave me so many wonderful memories. Classical TV seem to be going the 'great content no community' route so i wish them all the very, very best.
LP, from Oz