Some reports, officially unconfirmed but widely believed throughout the industry, had indicated that Rupert Murdoch's News Corporation was interested in buying iCast. But CMGI executives stressed they were still looking for a buyer. Wetherell said the company still believes in the potential profitability of online entertainment sites. CMGI's decision to shut down or sell iCast wasn't unexpected . ICast has never turned a profit and has recently experienced two major layoffs and the very raucous departure of several top executives.
Hopes remain for salvaging the site.
We're stronger than ever. ICast offers Web radio, streaming video presentations of short films, MP3s and iCaster, a downloadable player that supports CDs, MP3s, live streams, and instant messaging. Most of the site's content centers heavily on self-promotional vehicles for new artists. ICast, which employs about 200 people, did not return calls or e-mails requesting comment, nor did potential buyer News Corporation. Incubators have invested money and time into making these sites work, but none of them have really clicked.