Venturebeat has the scoop.
Why do Video networks fail again? My original post on Podtech from almost exactly a year ago on why it didnt seem as though Podtech would be making it:
In short, they first came out of the stables thinking that building a studio ad network would be a no brainer and spent over $7M building out shows and an ad sales department. Not only were they too soon and up against too much compeition on the ad sales side, they didnt have anyone in the network who could identify what good content was.