Pop.com Deal With iFilm Bursts
In a snap, Pop.coms intended purchase by iFilm has crackled and faded by the wayside. No one at either of the two companies would comment on the negotiations. An iFilm memo to employees read, "As you know, we have been in discussions with Pop.com. Those discussions have ended and have not resulted in a transaction. The companies will continue to enjoy many overlapping shareholding and personal relationships." Whether or not some of the other suitors for the troubled Website will come knocking is yet to be known. Sources say that the deal crumbled due to personality conflicts with the main players and Pops insistence on a high valuation for the domcom. If Pop cannot find a buyer soon, chief investor Paul Allen and his Vulcan Ventures might close up shop and cut its losses. So far US$10 million of Vulcans initially invested $50 million has been spent.