Comcast to shaft TechTV

[Jonbo298]

TechTV on Thursday told 285 of its San Francisco-based employees that they have 60 days to finish their work and move on. The move comes after cable-TV company Comcast announced plans to buy the struggling technology news outlet in March and merged it with its own G4 gaming network, based in Los Angeles.

Comcast said it plans to create 80 new positions after the acquisition closes, which is expected to receive regulatory approval early next week. TechTV employees will be given the opportunity to apply for those positions on the condition that they relocate to the Los Angeles office. Comcast will retain the San Francisco office as a "limited" G4 production facility for an indefinite period, according to G4 spokesman David Shane.

"There are 205 people impacted in total because of the 80 new positions created by the merger," Shane said. "We will work with employees to find new jobs in San Francisco or help them with the application process for the new positions."

Comcast will announce more detailed plans for the acquisition next week, said Shane. Those plans are expected to include information about which TechTV and G4 shows will be cancelled and which will remain in production. The company will negotiate contracts with specific on-air talent on a "case-by-case basis" at that time, he said.

Launched as ZDTV in 1998 by Ziff Davis Media, TechTV reaches nearly 44 million cable television subscribers. The organization's shows covered technology news, product reviews and consumer-focused tutorials. The company was purchased by Microsoft co-founder Paul Allen's Vulcan Ventures in 2000.

Comcast launched G4 in 2002, targeting the 24-hour-a-day channel at young video gamers. Comcast has committed $150 million to G4 over five years, according to Shane.

Financial details of the acquisition have not been disclosed, but people close to the companies said in March that Comcast paid close to $300 million.

"The purchase is a strong vote of confidence for G4," said Shane. "We're in 15 million cable homes today. With the merger, we will be in 44 million cable and satellite homes. That's massive distribution."

http://www.wired.com/news/business/0...w=wn_tophead_3

I'll keep my pissed off mood short and simple.

F*ck You Comcast