Date: 4th September 2000
Scour Inc., the Internet venture embroiled in a costly legal battle with the Motion Picture Association of America and the Recording Industry Association of America over its software that allows users to trade video and music files online, announced Friday that it had been forced to lay off 52 of its 70 employees.
Bloomberg News reported over the weekend that investors had decided not to provide more money to the company because of the MPAA and RIAA suits.
In June Michael Ovitz and former Disney Online president Richard Wolpert acquired a controlling stake in Scour, which, as of Sunday, was still advertising on its site for new employees. ("At Scour, Inc., the work isn't just exciting -- it's exhilarating. Opportunities don't simply knock; they kick open the door. ... The rewards are magnificent.")
Source: Studio Briefing