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TVnewsweb is latest dot-com calamity

Jul 09, 2001 | 10:19am EDT

Last week's collapse of TVnewsweb, an Internet company that sold breaking news stories from freelancers, local TV stations and the BBC to TV stations, was being blamed on the slower-than-expected roll-out of broadband connections. The company, founded one year ago by former cameraman Peter Henderson and Ken Heron, a onetime senior editor at the now-defunct Worldwide Television News agency, had initially attracted $10.5 million from investors and an additional $8.4 million last January. Bill Hood, managing director of TVnewsweb, told Monday's edition of Britain's Guardian newspaper, "I think the investors could see it [broadband delivery] coming, but maybe it wasn't coming quickly enough."

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