SAN FRANCISCO (Reuters) - Google Inc said it will stop selling advertising for broadcast radio, and plans to sell its Radio Automation business, acknowledging that the three-year project had failed.
GOOGLE (GOOG.NQ)said it hoped to find other roles for the majority of those that worked in its radio businesses, but estimated that up to 40 people may be laid off.
"We have always accepted that if you take risks not all of them will pay off," Google's vice president of product management, Susan Wojcicki, wrote on the company's blog on Thursday.
Google would focus its efforts on placing ads on streaming audio over the Internet, she said.
(Reporting by Alexei Oreskovic, editing by Leslie Gevirtz)
