Entertainment company Turner Broadcasting has closed the San Francisco office of its Media Camp startup accelerator and let go of its west coast Emerging Technology staff.
Formed in 2012, Media Camp was tasked with mentoring and funding promising media and advertising startups. A total of 27 companies passed through its programme, which in 2013 spun-off a Los Angeles-based sister accelerator run by entertainment producer Time Warner.
Media Camp founder and managing director Balaji Gopinath, who announced the news, explained: “As much as we garnered support and had some great wins, we also encountered significant challenges from both internal and external forces.
“While our impact to the media industry and Turner/Time Warner have been significant, in the final analysis, we have not found the clarity and direction that we needed to continue.”