Quantcast

ENTERTAINDOM.COM LOSES TOP THREE

Moloshok, Banister, Weiner Resign Posts At TW’s Entertaindom.com
In the first major executive shakeout from the announced merger of America Online Inc. and Time Warner Inc., the three top architects of Time Warner's much-heralded Entertaindom.com Web site are resigning.

Sources say James Moloshok, Entertaindom's chief executive and president; James Banister, its executive vice president and chief development officer; and Jeff Weiner, its senior vice president and chief operations officer, are all leaving the Burbank-based Web operation, according to the Los Angeles Times.

Their departures, apparently in the wake of the company's canceled plans to spin off the site as an independent company, suggest that Time Warner's extensive investments in new media may go by the wayside as it merges operations with its new partner.

An official announcement of their departures has not yet been made.

Entertaindom, which features a combination of original material, cartoons and film clips from the Warner Bros. library, and entertainment information, was launched late last year as one of the most ambitious projects by a traditional media company to create an entertainment-oriented site on the Web.

Most irksome to Entertaindom's staff of about 175 employees, according to sources, was the abandonment of plans to spin off the site, even though the staff already had been issued stock options representing 20% of the enterprise as of Jan. 1. The options were exercisable next Jan. 1 at a price of $7.55 per share.

Those options are now to be converted into a combination of Time Warner options exercisable over three years and restricted Time Warner stock vesting in five years—a formula that many at the Web site believe undervalues the operation by as much as half.

NEAR TRUTHS:
THE AGENCY SAGA
What do you want from live? (6/11a)
REVENUE CHART: OLIVIA’S ARMY
Looks like she's got staying power. (6/11a)
SIGNS OF HITS LIST
We're reading the tea leaves. (6/11a)
WATCH THE FIRST OFFICIAL VIDEO FOR "FEELING GOOD"
The Black Music Month celebration continues with a classic from a legend, (6/10a)
MUSIC’S HOTTEST FIRMS: HERTZ LICHTENSTEIN YOUNG & POLK LLP
Is there a lawyer in the house? (6/11a)
RHYTHM, BLUES AND THE FUTURE
The musical tapestry we know as R&B.
WHO'S NEXT?
Predicting the next big catalog deal.
JUST THE VAX, MA'AM
Once we all get vaccinated, how long before we can party?
WORLDWIDE GROOVE
How is globalization bringing far-flung territories into the musical mainstream?
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)