CEO steps down at eUniverse

By Jim Hu
Staff Writer, CNET News

Entertainment Web site eUniverse said Friday that its CEO Brad Greenspan has resigned from the company for undisclosed reasons. eUniverse's president, Brett Brewer, will become interim CEO until a suitable candidate is found, eUniverse said. The company said it named two new members of its board of directors: Jeffrey Edell, former CEO of Soundelux Entertainment Group; and Bradley Ward, former CEO of The Game Tree. The executive changes come after the company announced in September that it would restate its earnings for the quarter ending June 30 and for the first three quarters of 2003. eUniverse's stock has since been delisted from the NASDAQ.

In separate news, eUniverse announced on Monday that it has secured $8 million in financing from VantagePoint Venture Partners. As part of the financing, two managing directors of VantagePoint--David Carlick and Andrew Sheehan--have joined eUniverse's board of directors.

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