Digital Outsider Week Of New Launches, Financial Calamity Claims A DO Victim October 15, 2008
Posted by Mark Blei in : Uncategorized , trackbackThe digital out-of-home video business has proved more resilient than most, as place-based video networks continue to launch new services and extensions — with three new initiatives this week alone. But the ongoing credit crunch seems to have claimed its first casualty, as well.
First, the bad news: Reactrix, which installs and operates interactive digital displays in public places, is in receivership and has put itself up for sale after running out of funds. Rumors of the closure began circulating Monday and were confirmed today when the company hired Sherwood Partners, a consultancy that handles liquidations among other things, to “find buyers for the company’s media and technology assets,” according to founder and CEO Mike Ribero. This phrasing suggests the company may be split up into pieces, effectively ceasing to exist.
READ THE REST HERE Digital Outsider In Week Of New Launches, Financial Calamity Claims A DO Victim
Comments»
no comments yet - be the first?