March 15, 2001 12:30 PM PST
TechTV reorganizes, lays off employees
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The San Francisco-based company said it laid off about a dozen employees but did not disclose staff numbers before or after the layoffs. It added that despite the layoffs, there are still open positions on its programming site.
TechTV follows other online and offline media companies that have used layoffs and other cost-cutting measures to counter the dot-com slowdown. CNBC.com, News Corp., The New York Times Co., CNN and Knight Ridder have reduced their staffs as a result of the languid advertising market.
"Given the present market conditions, TechTV will reorganize our Web site operations to facilitate a fully integrated and interactive site," TechTV Chief Executive Larry Wangberg said in a statement. "In this reorganization, it was necessary to lay off some of our Web site associates."
TechTV is owned by Vulcan Ventures, the investment company of Microsoft co-founder Paul Allen, which purchased it from Ziff-Davis in November 1999. TechTV distributes technology news, entertainment, product reviews and updates on tech stocks to 70 countries through its TV programming, which coincides with postings on its companion Web site.
In July, TechTV inked a deal with Time Warner Cable and has been pursuing distribution arrangements with individual Time Warner cable systems around the country. TechTV also has signed affiliation agreements with AT&T, Comcast, Cox Communications, Charter Communications, MediaOne Group and Adelphia Communications.