MTVi cuts fourth of staff, scrubs IPO

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MTVi, the online arm of Viacom's MTV Networks, Sept. 27 terminated 105 staffers, or a fourth of its staff, and for now dropped plans for an initial public offering. MTVi operates Web sites for MTV and VH1 as well as and MTVi filed for an IPO in February but scrubbed the offering in the wake of a weak market for dot-coms. MTVi is the latest dot-com media venture to trim staff; Viacom's CBS earlier cut its Web staff.

Copyright September 2000, Crain Communications Inc.

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