STRONG SELL Rec on SRCM, Buyer Beware (3) Cont'd
Source Media (SRCM) Pilot Project Failed To Provide Internet "Like" Services In Colorado Springs. Pilot is cancelled.
Does SRCM even have the capability to provide internet services like the kind we use everyday, or are SRCM's internet services nothing like typical ISP services? You decide. It would appear the Colorado Springs people voted a big no.
Here is an article from the Colorado Springs Gazette-Telegraph dated Feb 5. The article describes the pilot program out in Col Springs and how it was canceled because it basically failed. Feel free to contact them yourself. Here is a clip from the article:
"Century, the former Cablevision, launched the Interactive Channel on Aug 30, 1996. The partners in the project were Source Media Inc. of Dallas, which created the channel; and The Gazette, which provided it with news and other information.
"It never lived up to expectations," Shreffler said.
Scheffler said he doubted the $6.95 fee was too expensive. Rather, he speculated viewers wanted the internet like service - something that would allow them to surf sites as they do on the world wide web.
Sounds to me like the Source Media internet (?) service was unable to provide real internet like service..... Do you really think MSFT, YAHOO, AOL or any others would buy this aged type service?
I don't think so.
But I do think the rumors of a buyout fit right up there with this company's history.... What appear to be years and years of rumors and failed promises. I ask - are the "rumors" used to raise money for a company that if it is not bought out will likely go belly up - QUICK? Inquiring minds want to know...
Lots more IMO serious questions about this company to come...
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