Joost, the P2P online video service once hailed as the new way to watch TV, has announced that it's ditching its consumer video offerings. Instead, the company plans to offer services to other media companies—such as cable and satellite providers—as a "white label video platform." The company will be doing quite a bit of restructuring in order to accommodate its new role by shedding employees and replacing its CEO.

Joost originally sprang forth from the minds of Skype's Janus Friis and Kazaa's Niklas Zennström in 2006, dubbed ...

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