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E-district counts on digital TV success.(attempts reorganization)(Brief Article)(Statistical Data Included)
The future of E-district now depends on so many other platforms in interactive TV
Over the past few months, the interactive entertainment provider E-district has been in the news for all the wrong reasons. Site characteristics E-district launched its community and entertainment network Leisure District in 1997, across the web, interactive TV and some games consoles. It teamed up with a number of digital TV service providers including ntl, Telewest and Bush Internet and the future looked bright for the company. Principals Earlier this year E-district hit the headlines when it suspended its chief executive, Steve Laitman, after the alarm was raised over the accuracy of the portal's revenue and user figures. According to reports, in the six months to June the company reported revenues of 1.04 million [pounds sterling] when its actual revenue figure was a mere 32,800 [pounds sterling]. It was also found to have over-stated its user figures to advertisers.
Most of Laitman's assets were frozen -- E-district's shares were temporarily suspended but re-listed on 18 June -- and E-district has commenced legal proceedings against its former chief executive. The company is ...
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