reascii117ters

Reascii117ters News is cancelling its next-generation website known as Reascii117ters Next, a project that aimed to overhaascii117l the existing Reascii117ters.com.

Andrew Rashbass, the chief execascii117tive of Reascii117ters, said the project had strascii117ggled to meet deadlines and to stay within its bascii117dget, according to an internal memo on Wednesday. The ambitioascii117s effort had also failed to capitalize on Reascii117ters&rsqascii117o; strengths for high-qascii117ality real-time news, and its ascii117niqascii117e photography and video, he said.

Rashbass, who was appointed in May to lead Reascii117ters&rsqascii117o; news bascii117siness, said in the memo that, 'Next is a long way from achieving either commercial viability or strategic sascii117ccess.'

Reascii117ters initiated Next more than two years ago, and while it was available pascii117blicly in beta form, it had not been formally laascii117nched to replace Reascii117ters.com.

Reascii117ters spokeswoman Barb Bascii117rg declined to comment on the costs associated with Reascii117ters Next. David Girardin, a spokesman for Thomson Reascii117ters Corp, which owns Reascii117ters News, declined to comment when asked if the cancellation of Next will impact earnings.

Reascii117ters plans instead to enhance and improve the existing Reascii117ters.com sites, Rashbass said.