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Gaylord Entertainment closes its internet division
GAYLORD ENTERTAINMENT CO, the parent company of, amongst other ventures Word Entertainment, is closing its Internet division, Gaylord Digital. A total of 116 personnel have lost their jobs. A financial loss for Gaylord Digital for its fourth quarter was reported to be $35 million. Gaylord Digital's largest assets are Christian music E-tailer Musicforce.com; Christian broadcasting site Lightsource.com; country music site MusicCountry.com; and Songs.com, a site for independent artists to sell their music. Commenting on the closure of Gaylord Digital, Frank Breeden, president of the Gospel Music Association and the Christian Music Trade Association, says, "It is no secret that times have been increasingly tough for dotcoms over the past 12-18 months. E-commerce is still seeking its own level and, in the process, has given a really rough ride for a lot of talented people in our industry. While we're saddened to learn that so many will face unemployment, we certainly understand the need for a business to operate profitably.
"Of course, we will watch with interest to see if a buyer for
Musicforce.com emerges...," Breeden adds. "It would be great if at
least one viable Christian music lifestyle Internet site with an
E-commerce component attached could exist."