TheStreet.com posts $24m loss

TheStreet.com posted a loss of $ 24.6m in the fourth quarter of last year on charges related to shutting down its UK operation and other write-downs.

The company recorded a restructuring charge of $17.6m on expenses related to the UK shutdown, layoffs and closing down its joint newsroom operation with The New York Times.

Revenues rose to $6.3m from $5.1m.

TheStreet.com also announced that Michael Golden, vice chairman of The New York Times Co, had stepped down from TheStreet.com's board of directors.

For the year, TheStreet.com's net loss expanded to $62m from a loss of $33.6m in 1999, while annual revenues rose to $23.3m from $14.3m.