BitTorrent Fires CEOs, Closes Los Angeles Studio, Shutters BitTorrent Now

Things are not looking good at BitTorrent. Citing multiple sources, Variety reports today that the company has fired two former CEOs — Robert Delamar and Jeremy Johnson — and let go an unknown number of staffers. Company’s CFO Dipak Joshi has stepped in as interim CEO. BitTorrent is also closing its Los Angeles-based production studio and shutting its BitTorrent Now streaming efforts. From the report: The company had officially announced the appointment of Delamar and Johnson as new co-CEOs in April. At the time, the duo laid out a renewed focus on media production and distribution, which involved the opening of a new Los Angeles-based production studio. These efforts culminated in BitTorrent Now, an ad-supported music and video streaming platform that launched in June. BitTorrent Now built on the company’s efforts to strike media distribution deals with independent artists, but didn’t actually use BitTorrent’s P2P technology for streaming.

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