Canada's JumpTV posts first-quarter loss

Toronto firm reports revenue of $3.6 mil

TORONTO -- Canadian webcaster JumpTV, currently undergoing restructuring, on Wednesday posted a first-quarter loss of $58.7 million for the three months to March 31, against a loss of $7.1 million in 2007, as it recorded a $48.1 million noncash goodwill and an intangibles impairment charge.

Revenue at Toronto-based JumpTV was $3.6 million, against a year-earlier $1 million, as the Internet broadcaster recently acquired the broadband network division of XOS Technologies and Cycling TV.

The webcaster said it has $39.8 million in cash and equivalents on hand, but will attempt to "reduce its cash burn" and cull money-losing content.