New York-based KIT digital Inc., which helps get video content to stream over the Web, filed for chapter 11 protection yesterday to get rid of some of the underperforming businesses it purchased during a $320 million buying binge, Dow Jones Daily Bankruptcy Review reported yesterday. Chief Financial Officer Fabrice Hamaide told a bankruptcy court that the company already has a plan to emerge from bankruptcy and "preserve its global operations and the jobs of its over 800 employees worldwide."
