Meedio LLC, which designed the Meedio software application, sold the majority of its assets to Yahoo this week, the company said.
The Meedio application, however, will be discontinued, and the support center closed, according to a note Pablo Pissanetzky, the company's chief technical officer, posted to the company's web site. Meedio's Electronic Program Guode (EPG) will continue to function until July 1.
Som eof the company forums will remain indefinitely, but without official support from either Yahoo or the Meedio team.
"As I said before, behind Meedio LLC the company, is Meedio the idea and all of us want to see it succeed," Pissanetzky wrote. "The sad truth is that we had recently hit a brick wall and did not have the resources to make it flourish. But, Yahoo! has a great team that is just as dedicated and passionate as we are in this space and, of course, they carry the content and might of an early Internet pioneer."
All of the company's senior management team will join Yahoo, Pissanetzky said. Terms of the deal were not disclosed. Meedio will change its name to PsyKoh LLC , named after Pissanetzky and Victor Koosh, the company's former president, which will manage its remaining assets.
"I am really looking forward to being able to bring you more cool products from Yahoo!" Pissanetzky wrote.