iCast Buys Shortbuzz & Lays Off 30
Netcaster iCast, a subsidiary of Internet conglomerate CMGI, has purchased independent short film site Shortbuzz.com. As part of the acquisition, iCast has raised its library to 400 films. On Friday, September 15, 2000, the company, however, laid off 30 employees in its technical and editorial divisions. The Website will replace those positions with new employees with more entertainment experience. iCast VP of public relations told VARIETY, "We know the business we want to be in, and were streamlining. Were not shutting down. In fact, well be stronger as a result. We had people who had nothing to do because they didnt know how to do it." The content destination site has a first-look deal with AMG and a syndication deal with FX television networks THE X SHOW to broadcast iCast content on the program.