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Joost Exits Consumer Online Video Business



-- Struggling online video startup Joost is restructuring its business after discovering that it can't survive on advertising to fund its operations.

The chief executive has stepped down but will remain as chairman.

The London-based company says it will shift its focus from being an online video site for consumers supported by advertising _ similar to Google Inc.'s YouTube. Instead, it will help businesses manage their videos on the Internet as they build brands.

Its target market will be media companies such as cable and satellite TV providers, broadcasters and video aggregators.

© 2009 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.


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