• May 16, 2007

Rebecca McPheters is canceling plans to launch a new service, called Readership.com, because of a lack of interest from publishers and an insufficient financial report, according to a report posted online at Mediaweek. In the article, McPheters said her company had raised less than half the $5 million necessary to launch the new service, which counted on support from both media-planning agencies and publishers. McPheters added that many publishers were apparently deterred by the threat of greater transparency in their audience measures. However, she reaffirmed her own belief that greater transparency is ultimately in publishers' best interests. Her plans for the new service were originally announced in October 2005. Funding shortages delayed rollout twice--first to the beginning of 2006, then the beginning of 2007.