In July 2009, Current TV made a series of changes due to financial reasons and the failed IPO. CEO Joel Hyatt resigned to a new vice president position and was replaced by Mark Rosenthal, the former COO and president of MTV Networks, with a plan to reform Current TV to more traditional programing. Lisa Derrick of "The Huffington Post" predicted that Current TV would undergo a transformation similar to MTV's transformation during Mark Rosenthal's 1990s tenure at MTV, from MTV's multi-minute music video format to longer 30 minute/1 hour reality television programing. Ultimately its assorted pod format was discontinued in lieu of traditional 30-minute block programing. Some elements of the pod format survived inside the themed 30-minute programing. In July 2009, 80 in-house staff were laid off, about 25% of Current's staff, and plans were announced to air licensed TV series and films and other content that was not produced by Current in-house or by the VC2 system. Andrew Wallenstein of "The Hollywood Reporter" predicted Current would make its targeted demographic a decade older from early 20s to early 30s, and add more less-serious entertainment programing to its then mostly news and reality/documentary format.