It is like a work force of 600 people who have to go elsewhere. Board member Bill Sornsin declined comment. Other executives and board members did not return calls seeking comment. By Luke Timmerman Seattle Times Eastside business reporter Rival Networks, a struggling Seattle-based sports Web site, will be shut down. Both companies talked seriously about an acquisition but abandoned the idea.
Rival officials blame the failure to make a deal on the rocky financial market.
They now will get severance packages worth between two and six weeks' pay. The site's content publishers now will need a new host, but users should still be able to find the same sports news on different sites. But he said a sales deal fell apart mainly because of the tumultuous financial markets. Despite the rough market, many current and former employees are upset with Gamoran and President Mark Shuken for not closing a deal, according to a founding employee in engineering. Jim Heckman, the founder and former chairman and chief executive officer who still had a financial interest in the company, expressed disappointment.