On Wednesday, the Nasdaq Stock Market ceased trading on the SmallCap Market of the company's shares, which last traded at 30 cents. --Stefanie Olsen, Special to ZDNet News
NetRadio has closed its doors and dismissed most of its 50 staff members after failing to secure investments for its 6-year-old online broadcasting operation. The Minneapolis-based company, which broadcast about 100 audio programs via the Internet, said it halted business after a deal with The Advisory Board, a New York-based media company, fell through and efforts to secure alternate sources of funding hit a wall. The company said that its board of directors and some management continue to investigate strategic investments.