PointCast Buyback Tale Begs the Question: Why?

Pointcast founder Chris Hasset looks to re-enter the company he founded

So PointCast founder Chris Hassett is exploring the possiblity of buying out the now-troubled Internet "push" pioneer he founded. That's what Hassett told CNN and News.com last week, and both News.com and the Wall Street Journal followed up with stories this morning, although the Journal's story was little more than an Easter weekend rehash of other outlets stuff.

The question, of course, is why do it? Why go back to a company and business concept that has failed to find a market? One clue may be in the quote Hassett gave News.com: "If we invest in the company, we'd look to bring in additional management from a publishing background to get the company on track. I've already talked to some media [executives], and they're ready to come in pretty quickly." In other words, a big media company buyout in whole or part could loom as an exit strategy.

Hassett plans to start due diligence this week, he told News.com, and could soon announce details of the investment team he's putting in place.

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