BitTorrent last week fired about half of its employees, and replaced its CEO, Doug Walker, with former CTO Eric Klinker.

"A person with knowledge of BitTorrent's plans also said the company would soon close its Torrent Entertainment Network, once conceived - and covered in the press - as a rival to iTunes," writes the NYT's Brad Stone. "The company, with its remaining 20 employees, will focus on BitTorrent DNA, a content delivery network that helps media and video game companies distribute their products cheaply over the Internet."

"The company has raised almost $46 million in funding, of which $17 million was raised earlier in the summer, so it presumably has enough cash for now. But an online video site/service won't cut it without scale or enough backing, and as a P2P tech service provider, there's too much piracy-and-perception baggage to cut through," notes Rafat Ali at the Washington Post. "Wonder when the other shoe will drop for other P2P competitors like Vuze?"

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