Stuart Elliot reports that "Firebrand Burns Out". Basically, they ran out of money. With the sums they were spending, I'm not surprised; "Firebrand was led by John A. Lack, a veteran of television networks like MTV, and Román Viñoly. Mr. Lack said last September that the company would spend $30 million by the time the television version of Firebrand began on Ion."
A spokesman for NBC Universal, Cory Shields, said on Tuesday afternoon, “we are not putting any additional capital into the company.”
Mr. Shields responded to a question from a reporter who was told by an executive of Firebrand that the company had shut down, effective immediately. The executive was not authorized to discuss the status of the company and as such declined to be identified.