Canoe Tosses ITV Overboard

Canoe Ventures is ceasing its efforts with interactive TV (ITV) and focusing on multiscreen and dynamic VOD ad insertion, shedding 120 employees along the way, including former CEO Kathy Timko.

In a statement, Canoe's new CEO Joel Hassell said, in part: "To succeed, we must prioritize and focus our resources. Therefore, Canoe will conclude its national interactive TV initiatives. Cable's ITV business will continue through the ad sales teams and video business units at the individual MSOs, as they pursue business opportunities with these capabilities within their own footprints."
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