Geocast informed its investors by telephone last Fri. that it had...
Geocast informed its investors by telephone last Fri. that it had been unable to obtain bridge financing and was going out of business. Firm was formed 3 years ago with goal of using broadcast DTV spectrum to deliver data…
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to home computers, and also by satellite through deal with EchoStar. Major TV groups and manufacturers who are investors (up to $10 million each) include Allbritton Communications, Belo Corp., Liberty Media, Hearst- Argyle, Philips, Thomson. Geocast official had no comment at our deadline but indicated there may be “news” this week.