Report: Move Networks CEO could be out, big shakeup looms

It looks like Move Networks CEO John Edwards could be out after failing to appear at a speaking engagement where Move was the lead sponsor, according to reports compiled by Contentinople. Move made significant staff cuts in February and Edwards was reportedly among those let go at the time, though he ended up remaining on as CEO. Sources suggest the company's VCs are actively searching for a replacement, though Edwards is still scheduled to speak at the Future of Television West conference on March 25, and his departure has not been confirmed by the company.

Move also reportedly laid off an additional 30 percent of its staff on top of the February cuts, including the bulk of its executive team. Chief strategy officer Tom Morgan, senior VP of sales Robert Bryson, and senior VP of operations Doug Parrish were all cut during that round of layoffs, according to the reports.

This shakeup in leadership and significant staff reduction spells trouble for the adaptive streaming pioneer, who, since launching the innovative technology, has seen other online video players develop similar features and pressure its core offering.

Move has drawn down nearly $70 million in venture capital, more than almost any other online video company. Apparently the VCs are unhappy with the company's current performance and are seeking a management shift, or more likely given the scope of the changes, a quick sale. 

For more:
- see a comprehensive breakdown of Move's situation at Contentinople here 

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