Financially troubled Bridge Information Systems – the No. 3 information data provider behind Reuters and Bloomberg – just lost another top executive.
Douglas McIntyre, the president and CEO of Future Source/Bridge, is jumping up to be president and CEO of a ‘Net start-up company called On2.com Inc. He’ll take over the post from founder Dan Miller, who will remain chief technology officer of the publicly traded company, which uses broadband technology to deliver full motion video over Web channels.
Back at Bridge, Merrill Oster, the chairman and majority stockholder of Future Source – which covers the futures, options, commodities and energy markets – told The Post he will step in to become an “active chairman.”
McIntyre marks at least the third top echelon executive to bolt from Bridge in recent months.
Kenneth Marlin, former executive vice president of marketing at Bridge, jumped last November to Veronis Suhler & Associates, a boutique investment banking concern. Last month, Chip Steinmetz resigned as managing director of Bridge’s British operations to join Disney’s Go.com as chief technology officer.
Two years ago, Bridge purchased Dow Jones’ troubled Telerate division for $510 million.
“It hasn’t been a smooth integration,” said one knowledgeable industry observer.
Early this year, Bridge said it had about $1.2 billion in debt. Despite a public spinoff of its Savvis subsidiary in March, Bridge CEO Tom Wendel recently said he is looking for an additional $75 million to meet a June 30 principle loan repayment of $350 million.
Bridge officials could not be reached yesterday.