RealTime IT News

Net Fallout Reaches Space.com

SPACE.com, the online resource for star-gazing junkies started by former CNNfn President Lou Dobbs, on Friday announced a strategic reorganization that includes the layoffs of 22 workers, or 20 percent of its workforce.

The restructuring will affect all parts of the company including publishing, internet, software, broadcast, sales and marketing, and technology. "SPACE.com has grown rapidly since its inception and like many new media companies, we've reached a point where it is necessary to consolidate to continue our aggressive growth strategy," said SPACE.com Chairman and CEO Lou Dobbs.

The announcement comes just days after Sally Ride, the first American woman in outer space, resigned as president, a role that she held for about a year.

As part of the reorganization, Space.com has shifted its management. Dr. Andrew Schwab, formerly Vice President, E-commerce, is promoted to Senior Vice President, Internet, responsible for all Internet properties and operations including the company's flagship web site. Alan Ladwig, current director of Washington Operations, is promoted to Vice President. Barry Frey, Senior Vice President, Global Sales and Sponsorship takes on the additional responsibilities of marketing.

Since launching in July 1999, SPACE.com has implemented an aggressive growth plan and acquisition strategy to build the first space multimedia company. Over the past year, SPACE.com has acquired several space-related Web sites including SpaceWatch.com, Starport.com, RussianSpace.com and Explorezone.com. In May, the company announced its international expansion with the acquisition of Sienna Software, the Toronto-based publisher of Starry Night, the leading amateur astronomy software line. Earlier this month, the company launched its first consumer print publication SPACE Illustrated magazine, and acquired Space Business International magazine, a London-based business to business publication.