Broadband Sports, a network of sports-content Web sites, has closed shop and dismissed 160 employees. The Santa Monica, Calif.-based company has hired Morgan Stanley Dean Witter to shop several of its sites, including fantasy sports site RotoNewsDirect, for potential buyers, according to Chief Executive Richard Nanula.
Broadband Sports also operated about 350 athlete Web sites under AthletesDirect, as well as SportsWritersDirect and retail site SportsAuthenticsDirect. Since the company's launch, it had raised a total of $60 million from such investors as Red Point Ventures and Sequoia Capital. Nanula said it will close with a "couple of million" left.