CanalWeb filed a petition in bankruptcy
It was a hard blow for the WebTV concept: CanalWeb, the pionneer of television on the web filed a petition in bankruptcy on Wednesday September 26th to the Commercial Court of Paris. The company, set up in 1998 by Jacques Josselin was looking for new investors since the beginning of summer. They didn't succeed to get a new fund raising (the latter, worth 130 MF was in May 2000), or to find a new industrial partner. Moreover, even when introducing fees on the Internet a few months ago, it didn't help to recover the situation. A judicial administrator should be appointed soon. For now, CanalWeb continues its activity (live programme distribution, participation to the development of satellites, company or brand television on the Web, etc.). According to some source of information, an industrial or technologic partner could take over a part of the activities without keeping however the employees (about one hundred).